American Integrity Insurance Group
AIINYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $28.42 Prior regular-session close from the quote source.
- $27.96–$29.33 Regular-session low and high so far today.
- 54.4K Regular-session shares traded · Nov 13, 11:47 AM ET.
- Feb 23 projected Projected for 2027-02-23 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $16.19–$32.21 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own AII if localized risk selection, reinsurance access, and claims execution keep catastrophe exposure priced better than the market fears.
AII price history
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Investment thesis
What must happen next
Localized property-and-casualty underwriting in a constrained Florida market continues to let American Integrity price risk adequately rather than chase premium volume at uneconomic rates.StrengtheningMateriality: High
GAAP annual net income increased from $39.742 million in FY2024 to $99.621 million in FY2025, consistent with pricing and loss costs moving favorably together. If this holds, growth adds intrinsic value; if it breaks, written premium growth can become a liability before losses appear in earnings.
Watch: Citizens Property Insurance Corporation or large admitted carriers such as State Farm, Progressive, or Universal Property & Casualty begin taking Florida property share with materially lower pricing, forcing American Integrity to match uneconomic rates or lose volume.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual net income increased from $39.742 million in FY2024 to $99.621 million in FY2025, consistent with pricing and loss.
Open source ↗The underwriting model remains cash generative, so premium growth supplies investable float and liquidity rather than consuming capital through unpaid losses and adverse development.StrengtheningMateriality: High
GAAP annual operating cash flow was positive at $138.192 million in FY2025. Cash generation gives the owner resilience and optionality; a cash-consuming underwriting cycle would force capital preservation or outside financing.
Watch: A severe Florida hurricane season causes claims payments to accelerate faster than premiums and reinsurance recoveries.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating cash flow was positive at $138.192 million in FY2025.
Open source ↗Capital retention and risk transfer remain sufficient to support catastrophe-exposed underwriting without overlevering the balance sheet.StrengtheningMateriality: Medium
Stockholders' equity increased from $133.966 million at FY2023 year-end to $162.392 million at FY2024 year-end and $337.022 million at FY2025 year-end. A stronger capital base lets the company keep writing policies through hard markets; inadequate capital would cap growth or create dilution risk.
Watch: Reinsurance renewals become unavailable or materially more expensive, increasing retained catastrophe exposure before any storm losses hit reported earnings.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Stockholders' equity increased from $133.966 million at FY2023 year-end to $162.392 million at FY2024 year-end and $337.022 million at FY2025.
Open source ↗Claims execution remains a competitive capability, limiting leakage from catastrophe and attritional losses as the company grows its policy base.HoldingMateriality: Medium
The company profile identifies American Integrity as a fire, marine and casualty insurer headquartered in Tampa, Florida, where claims handling is central to the operating model. Good claims handling protects underwriting margin and customer reputation; poor claims execution turns growth into higher severity, disputes, and regulatory risk.
Watch: A major storm produces customer-service failures, litigation, or regulatory complaints that damage agent and policyholder trust before renewal rates deteriorate.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
The company profile identifies American Integrity as a fire, marine and casualty insurer headquartered in Tampa, Florida, where claims handling.
Open source ↗
Full investment case & evidence
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Original research
Localized property-and-casualty underwriting in a constrained Florida market continues to let American Integrity price risk adequately rather than chase premium volume at uneconomic rates. If this holds, growth adds intrinsic value; if it breaks, written premium growth can become a liability before losses appear in earnings.
The underwriting model remains cash generative, so premium growth supplies investable float and liquidity rather than consuming capital through unpaid losses and adverse development. Cash generation gives the owner resilience and optionality; a cash-consuming underwriting cycle would force capital preservation or outside financing.
Capital retention and risk transfer remain sufficient to support catastrophe-exposed underwriting without overlevering the balance sheet. A stronger capital base lets the company keep writing policies through hard markets; inadequate capital would cap growth or create dilution risk.
Claims execution remains a competitive capability, limiting leakage from catastrophe and attritional losses as the company grows its policy base. Good claims handling protects underwriting margin and customer reputation; poor claims execution turns growth into higher severity, disputes, and regulatory risk.
All standing thesis claims
Original report summary
localized risk selection, reinsurance access, and claims execution keep catastrophe exposure priced better than the market fears.
Bull case and bear case
Bull case and bear case for American Integrity Insurance Group
Where the evidence on American Integrity Insurance Group stands: Holding on the latest evidence (Nov 11, 2026). Of its 4 thesis points, 3 strengthening and 1 holding.
Bull case: what the evidence supports
Localized property-and-casualty underwriting in a constrained Florida market continues to let American Integrity price risk adequately rather than chase premium volume at uneconomic rates.
The underwriting model remains cash generative, so premium growth supplies investable float and liquidity rather than consuming capital through unpaid losses and adverse development.
Capital retention and risk transfer remain sufficient to support catastrophe-exposed underwriting without overlevering the balance sheet.
Claims execution remains a competitive capability, limiting leakage from catastrophe and attritional losses as the company grows its policy base.
Bear case: what would count against it
Citizens Property Insurance Corporation or large admitted carriers such as State Farm, Progressive, or Universal Property & Casualty begin taking Florida property share with materially lower pricing, forcing American Integrity to match uneconomic rates or lose volume.
A severe Florida hurricane season causes claims payments to accelerate faster than premiums and reinsurance recoveries.
Reinsurance renewals become unavailable or materially more expensive, increasing retained catastrophe exposure before any storm losses hit reported earnings.
Thesis-Break Engine
Thesis-break watch · American Integrity Insurance Group
No break has crossed American Integrity Insurance Group’s thesis. Its break conditions are checked against every new filing as it lands.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
American Integrity Insurance Group filed an SEC 8-K on 2026-11-10: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedRegulation FD disclosure.
American Integrity Insurance Group filed an SEC 8-K on 2026-09-08: Regulation FD disclosure. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
American Integrity Insurance Group filed an SEC 8-K on 2026-08-11: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Citizens Property Insurance Corporation or large admitted carriers such as State Farm, Progressive, or Universal Property & Casualty begin taking Florida property share with materially lower pricing, forcing American Integrity to match uneconomic rates or lose volume.
- A severe Florida hurricane season causes claims payments to accelerate faster than premiums and reinsurance recoveries.
- Reinsurance renewals become unavailable or materially more expensive, increasing retained catastrophe exposure before any storm losses hit reported earnings.
- A major storm produces customer-service failures, litigation, or regulatory complaints that damage agent and policyholder trust before renewal rates deteriorate.
AII news
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Financial statements
AII income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
AII: quick answers
- When does American Integrity Insurance Group (AII) report earnings next?
- American Integrity Insurance Group's next results are projected for February 23, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on November 10, 2026. Earnings calendar
- What is AII's short interest?
- As of October 30, 2026, 535,111 AII shares were sold short, 2.73% of its shares outstanding, up 19.5% from the count before. At the stock's average daily volume that is 3.0 days to cover. FINRA publishes the count twice a month. AII short interest history