American Integrity Insurance Group, Inc. (AII) Stock Analysis

American Integrity Insurance Group’s principal competitive advantage is its scale and operational resilience in the challenging Florida property insurance market. As of June 2025, AII had over 400,000 policies in force, ranking it among the top three domestic carriers in Florida by policy count—behind only Citizens and State Farm, and ahead of regional peers like Universal P&C and Tower Hill. This scale provides negotiating leverage with reinsurers and distribution partners, and supports a lower expense ratio through operating leverage.

AII’s underwriting discipline is notable: its combined ratio for the first half of 2025 was 58.1%, materially better than the Florida peer group average, and its loss ratio improved to 30.8% from 39.5% the prior year. The company’s robust reinsurance program, including catastrophe bonds and quota share arrangements, has enabled it to weather market volatility that forced several rivals to exit or shrink.

AII’s technology platform and data-driven pricing allow for granular risk selection, supporting profitable growth even as it expands into higher-risk regions like Miami-Dade. Its customer retention rate rose to 81.5% in Q2 2025, outpacing most regional competitors.

Finally, management continuity and a founder-led culture have fostered prudent risk management and adaptability—key differentiators in a market where many competitors have failed or been acquired during periods of regulatory and litigation stress.