At a glance
- A $17.2 million mark-to-market loss on its investment portfolio cut net income attributable to stockholders to $14.6 million from $22.7 million a year earlier.
- Ategrity's $17.2 million investment loss compares with a $9.2 million investment gain in the third quarter of 2025, a $26.4 million swing.
- Ategrity's gross written premiums grew 14.7% to $165 million, with property up 25% and casualty up 10%.
Ategrity Specialty Insurance posted a record-low 84.7% combined ratio for the third quarter of 2026. A $17.2 million mark-to-market loss on its investment portfolio cut net income attributable to stockholders to $14.6 million from $22.7 million a year earlier.
Ategrity's $17.2 million investment loss compares with a $9.2 million investment gain in the third quarter of 2025, a $26.4 million swing. Ategrity carries a $219 million utility and infrastructure portfolio at fair value, an allocation the company says brings quarterly volatility largely disconnected from underwriting. Underwriting income rose 83.7% to $19.5 million.
Ategrity's gross written premiums grew 14.7% to $165 million, with property up 25% and casualty up 10%. The loss ratio improved to 57.5% from 60%, and the expense ratio fell to 27.2% from 28.7%. Submissions rose 30%, according to Cohen, well ahead of premium growth. Ategrity frames that gap as selection rather than volume-chasing, and President and Chief Underwriting Officer Chris Schenk said the company applied "meaningful rate increases on new business" to stay ahead of loss cost trends in casualty.
An investment swing outweighed Ategrity's record underwriting quarter
Q3 results, $m
- Inflow / above zero
- Outflow / below zero
Show as table
| Label | Value ($m) |
|---|---|
| Investment result, Q3 2025 | $9.2M |
| Investment result, Q3 2026 | −$17.2M |
| Net income, Q3 2025 | $22.7M |
| Net income, Q3 2026 | $14.6M |
Reported by the Insurer portfolios desk from Insurance Business America. Published . Corrections