American Integrity Insurance Group, Inc. (NYSE: AII) (“American Integrity,” “we,” “us,” “our” or the “Company”), a Tampa-based property and casualty insurance holding company and one of Florida’s leading providers of residential property insurance, announced today that it has fully placed its 2026-2027 indemnity based, catastrophe excess of loss reinsurance program for its insurance subsidiary, American Integrity Insurance Company (“AIIC”), which is effective as of June 1, 2026.
Jon Ritchie, President of American Integrity, commented, “I am pleased to announce the successful completion of our 2026-2027 catastrophe excess of loss reinsurance program. This year’s placement benefits from meaningful risk-adjusted rate reductions at the upper end of a US property catastrophe market that was publicly expected to be priced down 15-20% for June 1 renewals, improved terms and conditions, and an improved net retention profile. Due to the continued growth in premium and exposure that we have experienced over the past year, we have increased our total third-party excess of loss reinsurance limit for all occurrences by $409.1 million, or 15.8%, to $2.99 billion, over the 2025 treaty.”
Highlights of the 2026-2027 catastrophe reinsurance program include:
- The reinsurance program provides third-party coverage of $2.25 billion for a single catastrophic event.
- The total incurred net consolidated catastrophe reinsurance premiums ceded to third parties is expected to total $430 – $440 million for the 2026 treaty year.
- The first event tower, including retentions, is equal to a 1-in-130 year return period, consistent with last year’s program.
- Market conditions were favorable for this year’s renewal, largely as a result of a healthy reinsurance market, the success of the Florida legislative reforms and the lack of severe storm activity in 2025. Market observers have publicly stated that U.S. property catastrophe cedents are experiencing up to 20% reductions in risk-adjusted pricing, and we believe our renewal is consistent with that market dynamic. The exception is that no risk-adjusted pricing benefit was realized on the $515 million of limit purchased from the Florida Hurricane Catastrophe Fund (“FHCF”) or the $565 million of multi-year bonds issued in 2025.
- The Company took advantage of the favorable pricing environment to reduce the Company’s net retention exposure despite an estimated 19% growth in peak season in-force exposure versus the prior year treaty. Our first event retention will remain flat at $35 million, and our second event retention will decrease from $35 million to $20 million for named storms (with $10 million of those amounts retained by AIIC and the remainder retained by our segregated cell captive reinsurer). Our net retention for the third event decreases from $15.8 million to $10 million, our fourth event will remain flat at $10 million, and our net retention for the third and fourth event is retained by AIIC. In a four-event hurricane season, our aggregate retention has decreased from $95 million to $75 million. Additionally, our ex-Florida first storm retention decreased from $35 million to $10 million.
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The $3 billion placement is a combination of protection provided by traditional reinsurers, Insurance Linked Securities (“ILS”) investors, the FHCF and our captive reinsurer. The entire program is indemnity based, with no parametric covers. All reinsurers participating in our 2026-2027 catastrophe reinsurance program were rated A- or better by A.M. Best or were required to post collateral up to 100% of all obligations to the Company.
- The traditional reinsurance market represents $1.65 billion of limit, up from $1.1 billion last year. There is no material multi-year coverage in the traditional reinsurance placement.
- The ILS market includes the $565 million catastrophe bonds issued in 2025, which expire at the end of the 2026 treaty year (May 2027), and an additional $260 million of catastrophe bonds issued in 2026 at more favorable pricing, which expire at the end of the 2028 treaty year (May 2029).
- The FHCF provides $572 million of limit (with a participation of 90%).
About American Integrity Insurance Group, Inc.
American Integrity Insurance Group, Inc. (NYSE: AII) is a leading provider of residential property insurance, focused on delivering innovative, reliable coverage to homeowners throughout the Southeast. Built on a foundation of integrity, resilience, and service, the Company’s mission is to be the most trusted and responsive insurance solution in the markets it serves. Founded in 2006 and headquartered in Tampa, American Integrity is committed to protecting policyholders with strength and purpose—today and for generations to come. For more information, visit www.aii.com.
Forward-Looking Statements
Certain statements in this press release may be forward-looking statements. All statements other than statements of historical facts may be forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance, and are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Please refer to the risks discussed in sections titled “Risk Factors” in our reports filed with the Securities and Exchange Commission for further information on risks we may face. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, the future events and trends discussed may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements.
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