American Integrity Insurance Group, Inc. · NYSE:AII
American Integrity Insurance — Q4 2025 Earnings Presentation
24 slides from American Integrity Insurance's earnings presentation, Feb 25, 2026
Slide 1: Year-End 2025 Investor Presentation
Year-End 2025 Investor Presentation 1
Slide 2: Legal Disclaimer
Legal Disclaimer Generally. The information contained in this presentation has been prepared by American Integrity Insurance Group, Inc. and its subsidia ries (collectively, “American Integrity, “AII,” ” the “Company,” “we,” “us” or “our”) and contains information pertaining to the business and oper
Slide 3: Experienced, Founder-Led Management Team
Experienced, Founder-Led Management Team Bob Ritchie Jon Ritchie Ben Lurie David Clark Founder & Chief Executive President Chief Financial Officer Chairman Officer Founded American Joined American Joined the American Co-founded American Integrity in 2006 Integrity in 2009 Integrity Board in 2017 Int
Slide 4: American Integrity Financial Highlights
American Integrity Financial Highlights Three Months & Year Ended 12/31/25 Year Ended 12/31/25 vs Year Ended 12/31/24 422K $945M $243M $337M Policies In-Force (1) Gross Premiums Written Net Premiums Earned Total Shareholders’ Equity(1) vs. 356K 2024 (+19%) vs. $768M 2024 (+23%) vs. $182M 2024 (+33%)
Slide 5: Strong Voluntary Business Driving Organic Growth
Strong Voluntary Business Driving Organic Growth • Favorable policy retention trends and strong voluntary policy writings have resulted in 17% new voluntary policy growth during the year ended 12/31/25 compared to the prior year • Total policy growth is even higher due to the Citizens takeouts in la
Slide 6: Leading Florida Residential Market Share Position
Leading Florida Residential Market Share Position Twenty years of cultivating our distribution network has resulted in a strong market share position in the Florida residential insurance marketplace, both in terms of voluntary writings and in-force policies/premium New FL Voluntary Policies Written
Slide 7: Our Core Competencies Support and Fuel our Profitable Growth
Our Core Competencies Support and Fuel our Profitable Growth Our success is made possible by our core competencies built over two decades Deep, Diversified Distribution Robust, Granular Technology Platform ✓ Longstanding independent agent relationships ✓ Insurance Now Guidewire system ✓ National car
Slide 8: Voluntary PIF Growth Now More Important Than Citizens Takeouts
Voluntary PIF Growth Now More Important Than Citizens Takeouts We have successfully and opportunistically pursued take-outs from Citizens but believe that opportunity is greatly diminished going forward • Since October 2024, we capitalized on favorable market conditions to assume policies from Citiz
Slide 9: Voluntary, Organic Growth Opportunities Abound
Voluntary, Organic Growth Opportunities Abound Our strong balance sheet and leading position in the stabilized Florida insurance market give us confidence in our ability to capitalize on attractive, near-term organic growth opportunities Strong Florida Voluntary Policy Writing And Renewal Trends Str
Slide 10: Tri-County Growth Opportunity
Tri-County Growth Opportunity The newly stabilized litigation environment has made it desirable to write business in the Tri-County(1), which we have limited since 2013 until the takeouts of 4Q 2024 and 2025 Currently 7% of American Integrity’s Policies- In-Force vs 28% of Florida population(2) Tri-
Slide 11: Middle-Aged Roof Opportunity
Middle-Aged Roof Opportunity The newly stabilized litigation environment has made it desirable to insure middle-aged roofs, whereas during the roof crisis we emphasized new homes with new roofs In response to the litigation crisis, AII reduced middle-aged roof exposure from 76% to 26%(1) The 2022 re
Slide 12: Commercial Residential Growth Opportunity
Commercial Residential Growth Opportunity AII has been preparing to enter the commercial residential insurance market for over a year. Admitted market for commercial residential in Florida is estimated to be $1.7B of premium (1) Assumed $5.9MM of unearned premium in our 4Q Citizens takeout First vol
Slide 13: Reducing Non-Cat Quota Share
Reducing Non-Cat Quota Share AII has the opportunity to further drive revenue and net earned premium by reducing its reliance on non-cat quota share to 25% beginning 2026, below the 40% level previously Ceded 40% of non-cat premiums to quota share partners in fiscal year 2025 Reduce that ceding rate
Slide 14: Strategic Regional Expansion
Strategic Regional Expansion Our deep relationship with our builder affiliated agencies has provided us with disciplined growth opportunities outside of our core Florida market. Supports and deepens our builder affiliated agency relationships Strategic Regional Expansion Recently surpassed 20K in-fo
Slide 15: Robust Reinsurance Program
Robust Reinsurance Program Our strategic reinsurance program is key to our risk management philosophy Reinsurance Philosophy 1 Reduce 2 Enhance 3 Limit 4 Protect earnings capital exposure to capital volatility management CAT events Our Risk Management Strategy Includes Multiple Types of Reinsurance:
Slide 16: Catastrophe Reinsurance Program with Broad Market Support
Catastrophe Reinsurance Program with Broad Market Support Sophisticated and conservative all-peril catastrophe XOL coverage to mitigate retained property losses J First event $1,968M $1,937M Integrity Re Integrity Re 2025 CL A-1 2025 CL A-2 A Total First and Second event retention of H I $1,668M K $
Slide 17: A Compelling Investment Opportunity
A Compelling Investment Opportunity A Compelling Investment Opportunity American Integrity combines deep Florida expertise, management continuity and an impressive track record of operating in the stater with a large organic growth opportunity in the stabilized Florida market Long-Term Growth Improv
Slide 18: Appendix
TUE TELS FED. WERE M LEMANS / / #3 1 T44 Ms Ftd ti/ IA usin @ ' D> aA Wy; INTEGRITY —a6 Appendix
Slide 19: Summary Financials
Summary Financials Income Statement – Year Ended Income Statement – Three Months Ended $ in thousands December 31, December 31, $ in thousands December 31, December 31, Year Ended 2025 2024 Three Months Ended 2025 2024 Revenues Revenues Gross premiums written $944,634 $767,678 Gross premiums written
Slide 20: Summary Financials
Summary Financials Balance Sheet $ in thousands December 31, December 31, 2025 2024 Assets Short term investments $18,121 - Fixed maturities, available-for-sale, at fair value $330,489 $214,045 Total investments $348,610 $214,045 Cash and cash equivalents 203,902 173,220 Restricted cash 40,217 6,052
Slide 21: High Quality Investment Portfolio
High Quality Investment Portfolio • We maintain a simple, conservative, highly-rated and liquid investment portfolio focused on investment grade fixed income securities • Total cash and investments at 12/31/2025 of $593M (1), which includes $375M in two investment portfolios (2) managed by Goldman S
Slide 22: Non-GAAP Reconciliations Year Ended December 31, 2025 vs 2024
Non-GAAP Reconciliations Year Ended December 31, 2025 vs 2024 Underwriting Income Ceded Catastrophe Excess of Loss Premiums Ratio ($ in thousands) Year Ended December 31, ($ in thousands) Year Ended December 31, 2025 2024 2025 2024 Income before taxes $115,057 $51,039 Gross premiums earned $884,958
Slide 23: Non-GAAP Reconciliations Three Months Ended December 31, 2025 vs 2024
Non-GAAP Reconciliations Three Months Ended December 31, 2025 vs 2024 Underwriting Income Ceded Catastrophe Excess of Loss Premiums Ratio ($ in thousands) Three Months Ended December 31, ($ in thousands) Three Months Ended December 31, 2025 2024 2025 2024 Income before taxes $29,278 $10,746 Gross pr
Slide 24: American Integrity Insurance Group
AMERICAN INTEGRITY INSURANCE GROUP
American Integrity Insurance Group — Q4 2025 Earnings Presentation on 6ix