Ategrity Specialty files for IPO

Ategrity Specialty has filed an S-1 registration statement for an initial public offering and has applied to list its common stock on the New York Stock Exchange under the symbol ASIC.

Established in 2017, the insurer offers excess and surplus products to small to medium-sized businesses across the US.

For the year ended December 31, 2024, the company wrote $437 million in gross written premiums, representing a compound annual growth rate of 28.4% over the last two years. Combined ratio for 2024 was 93.9%, a decrease of 3.6% from 2023. Ategrity claims that it combines deep technical underwriting with a highly efficient operating platform, supported by technology, to make timely, consistent, and precision-oriented underwriting decisions.

Ategrity is backed by Zimmer Financial Services Group, which invested $300 million in the company. Ategrity stated that upon completion of the offering, Zimmer will retain a majority of the voting power in its common stock eligible to vote in director elections.

Ategrity Specialty and Ategrity Ltd both have a financial strength rating of “A-” (Excellent) from A.M. Best.