Ategrity has demonstrated a consistent trajectory of internal capital generation, growing its equity base from $322.2M in 2024Q1 to $631.0M by 2026Q1.
| Total Assets | 1.52B | 1.47B | 1.12B | 882.04M |
| Asset Growth % | 32.48% | 31.23% | 27.37% | - |
| Total Investment Assets | 4M | 1.08B | 775.39M | 352.94M |
| Long-Term Investments | 3.17B | 830.36M | 284.02M | 254.74M |
| Short-Term Investments | 233.73M | 244.95M | 491.36M | 98.2M |
| Total Current Assets | 594.9M | 587.73M | 916.42M | 590.47M |
| Cash & Equivalents | 47.48M | 29.72M | 26.57M | 264.65M |
| Receivables | 992.84M | 235.82M | 326.37M | 189.37M |
| Other Current Assets | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 121.69M | 30.2M | 21.55M | 23.25M |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 33.84M | 30.2M | 21.55M | 23.25M |
| PP&E (Net) | 0 | 0 | 0 | 0 |
| Other Assets | 11.24M | 12.73M | -108.23M | 6.37M |
| Total Liabilities | 887.7M | 859.45M | 724.63M | 559.85M |
| Total Debt | 0 | 0 | 0 | 0 |
| Net Debt | -47.48M | -29.72M | -26.57M | -264.65M |
| Long-Term Debt | 0 | 0 | 0 | 0 |
| Short-Term Debt | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 883.77M | 855.27M | 718.23M | 549.39M |
| Accounts Payable | 50.4M | 62.75M | 74.41M | 33.57M |
| Deferred Revenue | 281.96M | 281.86M | 212.83M | 173.91M |
| Other Current Liabilities | 538.25M | 502.25M | 403.58M | 320.94M |
| Deferred Taxes | 0 | 0 | 0 | 0 |
| Other Liabilities | 3.92M | 4.18M | 6.4M | 10.45M |
| Total Equity | 633.28M | 614.86M | 398.81M | 322.2M |
| Equity Growth % | 48.2% | 54.17% | 23.78% | - |
| Shareholders Equity | 631.02M | 614.31M | 398.31M | 321.7M |
| Minority Interest | 2.26M | 550K | 500K | 500K |
| Retained Earnings | 134.04M | 108.57M | 34.57M | -12.52M |
| Common Stock | 48K | 48K | 38K | 338.63M |
| Accumulated OCI | 249K | 9.22M | 3M | -4.42M |
| Return on Equity (ROE) | 15.18% | 14.6% | 13.06% | 3.12% |
| Return on Assets (ROA) | 6.27% | 5.7% | 4.7% | 1.14% |
| Equity / Assets | 41.64% | 41.7% | 35.5% | 36.53% |
| Debt / Equity | 0.00x | - | - | - |
| Book Value per Share | 12.72 | 13.30 | 8.23 | 6.65 |
| Tangible BV per Share | 12.04 | 12.65 | 7.78 | 6.17 |
Reserve development and social inflation
As reported in the latest financial statements, Ategrity’s equity grew from $322.2M in 2024Q1 to $631.0M by 2026Q1, reflecting a consistent trajectory of internal capital generation that supports the company's aggressive 23.41% revenue growth profile within the competitive excess and surplus lines insurance market.
The doubling of equity over two years suggests that the company is successfully retaining earnings to bolster its balance sheet against future underwriting volatility. This capital accumulation appears to provide a necessary buffer as the firm scales its exposure in the small-to-mid-market commercial niche.
Based on the provided quarterly figures, the company's loss reserves reached $61.9M in 2026Q1, a significant increase from the $28.0M reported in 2025Q4, which indicates that management is actively adjusting its liability estimates to account for evolving claims severity in its casualty-heavy portfolio.
The sharp fluctuation in loss reserves warrants close investigation, as it may imply either a conservative approach to IBNR provisioning or an underlying shift in the risk profile of recently written policies. Investors should monitor whether these reserve increases are a response to social inflation or simply a function of the rapid premium growth observed in recent periods.
According to the balance sheet data, total assets expanded to $1.5B by 2026Q1, maintaining a healthy equity-to-liability ratio that suggests the company is well-positioned to absorb potential underwriting shocks while continuing to pursue its wholesale-only growth strategy in the current hard market environment.
The company's ability to maintain a stable equity base relative to its growing liability profile suggests disciplined capital management. This capitalization level appears sufficient to support current operations, though the reliance on internal growth necessitates continued underwriting discipline to avoid capital erosion from adverse loss development.
As indicated by the company's 2017 inception date, Ategrity lacks a long-term historical loss triangle, which, based on industry analysis, may lead to an underestimation of latent casualty claims that have not yet manifested in the current, relatively short-duration reserve data.
The absence of a multi-cycle loss history makes it difficult to definitively assess the long-term adequacy of current reserves against potential social inflation. This structural limitation suggests that the company's current profitability metrics may be subject to future revisions if long-tail casualty claims begin to emerge at higher-than-anticipated severities.
Quick answers to the most common questions about buying ASIC stock.
As of 2025, Ategrity Specialty Holdings LLC (ASIC) had total assets of $1.47B including $587.7M in current assets.
Ategrity Specialty Holdings LLC (ASIC) carries total debt of $0.0M, offset by $274.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Ategrity Specialty Holdings LLC (ASIC) has total shareholders' equity (book value) of $614.3M ($13.30 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Ategrity Specialty Holdings LLC (ASIC) reported a current ratio of 0.69x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.