# ASIC Q3 2026 Earnings Call: Ategrity Posts Record Underwriting Success

> Ategrity Specialty Insurance reports record low combined ratio of 84.7% despite 36% net income drop from investment losses.
- Title: ASIC Q3 2026 Earnings Call: Ategrity Posts Record…
- Summary: Ategrity Specialty Insurance reports record low combined ratio of 84.7% despite 36% net income drop from investment losses. Ategrity Specialty Insurance…
- Keywords: asic, q3 2026, combined ratio, net income, investment losses, underwriting income, gross written premiums, net written premiums, book value, finance, markets, 2026
- Source: BigGo Finance — https://finance.biggo.com/news/US_ASIC_2026-10-21
- Author: BigGo Finance
- Published: 2026-10-21T23:14:16+00:00
- Read time: 1 min
- Topics: asic, q3 2026, combined ratio, net income, investment losses, underwriting income, gross written premiums, net written premiums, book value, finance, markets
## Q3 2026 Earnings Results
Ategrity Specialty Insurance Company Holdings reported third-quarter 2026 adjusted net income of $14.7 million, down 35.5% from $22.8 million a year earlier.
## Record Underwriting Performance
Underwriting income jumped 83.7% year over year to $19.5 million, producing a record-low combined ratio of 84.7%.
## Investment Losses Impact
Realized and unrealized investment losses of $17.2 million offset strong underwriting gains, reducing net income by 36%.
## Premium Growth Metrics
Gross written premiums rose 14.7% year over year, with property premiums up 25% and casualty premiums up 10%.
## Net Premium Performance
Net written premiums increased 25.8% on higher retention, while net earned premiums climbed 35.7%.
## Investment Income
Net investment income grew 19.1% to $13.1 million, helped by a larger portfolio and higher interest rates.
## Book Value Update
Book value per share ended the quarter at $13.72, up 30% since IPO, though book value declined $6.7 million sequentially.
## Q4 Guidance
Management guided to Q4 gross written premium growth exceeding E&S market by 15-20 percentage points and combined ratio below 87%.
## Product Launches
Ategrity launched four new specialty products, Life Sciences, Energy, Environmental Liability, and Sports & Entertainment, in four weeks using AI.
## Casualty Redesign
Ategrity redesigned core casualty offerings to provide expanded coverage, including habitability, human trafficking, and assault and battery.
## Investment Strategy
CFO Neil Adler noted portfolio running ahead of 5.5% long-term annualized return assumption with $8.9 million in realized gains.
## Capital Deployment
Ategrity plans to increase fixed income allocation to 90% of portfolio and buy back shares using $47 million authorization.
## Key takeaway

Ategrity Specialty Insurance achieved record low combined ratio of 84.7% in Q3 2026 but net income fell 36% due to $17.2 million in investment losses.