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NEW YORK, NY – July 29, 2026 – Ategrity Specialty Insurance Company Holdings (NYSE: ASIC) today announced financial results for the quarter ended June 30, 2026. The Company reported net income attributable to stockholders of $33.5 million, or $0.67 per diluted share, compared to $17.6 million, or $0.39 per diluted share, in the prior-year period. Adjusted net income attributable to stockholders(1) was $33.5 million, or $0.67 per diluted share(1).

Chief Executive Officer Justin Cohen said, “Ategrity delivered another quarter of record production, underwriting profitability and earnings, with gross written premium growth of 23.4%, a combined ratio of 85.9% and adjusted net income growth of 87.9%. These results demonstrate the strength of our productionized underwriting platform, and our ability to take market share while expanding profitability.

“The scalability of our model was evident this quarter, as our expense ratio improved 350 basis points to 27.5%, contributing to a 66.9% increase in underwriting income. We continue to see opportunities to drive further efficiencies through automation and streamlined processes while executing our disciplined underwriting approach. As we continue to scale, we believe our model is positioned to deliver attractive returns for shareholders and exceptional value to our distribution partners.”

For the quarter ended June 30, 2026, gross written premiums increased 23.4% compared to the prior-year period, driven by execution of our growth initiatives and increased engagement across our expanding distribution network. Gross written premiums for casualty lines increased 24.7% year-over-year, reflecting the Company’s strategic focus on broadening casualty-related products and verticals. Gross written premiums in property lines increased 21.3% year-over-year, with contribution from growth in lower-risk geographies, including the Midwest and New England.

Underwriting income(1) was $16.0 million for the quarter, up 66.9% from $9.6 million in the prior-year period. The combined ratio for the quarter was 85.9%, a decrease from 88.9% in the prior-year period, driven by improvement in the expense ratio. The loss ratio increased by 0.5 percentage points to 58.5%, reflecting a shift in business mix toward our Brokerage channel in recent periods and lower catastrophe activity in the prior-year period.

The overall expense ratio was 27.5% for the quarter, compared to 31.0% in the prior-year period, driven by operating expense leverage and lower net policy acquisition costs. Operating expenses, net of fee income, decreased as a percentage of net earned premiums by 2.9 percentage points to 9.5%, reflecting emerging scale benefits of our centralized model and stronger fee income. Policy

“Our team delivered another quarter of strong growth while maintaining our technical underwriting standards” said Chris Schenk, President and Chief Underwriting Officer. “Record new business growth was driven by the expansion of our distribution relationships and the execution of differentiated growth strategies, including initiatives such as Project Heartland and our New England strategy. We also entered the quarter with a larger and more valuable renewal portfolio, reflecting the cumulative benefits of investments made over the past several years. Together, these differentiated growth initiatives and our expanding renewal franchise are creating a more durable, predictable and profitable earnings foundation.”

“Across our portfolio, we continue to capture attractive opportunities as we see increased market focus on coverage terms and conditions, particularly in the middle-market segment. Our strategy is to provide insureds with the coverage they need at fair, technically sound rates. As insureds demonstrate a renewed willingness to pay for coverage certainty, we believe our differentiated underwriting approach, targeted market strategies and disciplined execution will enable Ategrity to continue gaining market share while delivering sustainable, profitable growth.”


	Three Months Ended June 30,						Six Months Ended June 30,
($ in thousands, except percentages and per share data)	2026			2025			2026			2025
Gross written premiums	$	206,762		$	167,502		$	349,689		$	283,645
Ceded written premiums	(53,325)			(50,231)			(77,545)			(76,503)
Net written premiums	$	153,437		$	117,271		$	272,144		$	207,142

Net earned premiums	$	113,775		$	86,928		$	218,986		$	165,229
Fee income	3,432			1,524			5,654			2,084
Losses and loss adjustment expenses	66,503			50,412			128,383			97,274
Underwriting, acquisition and insurance expenses	34,666			28,430			66,945			53,315
Underwriting income (1)	16,038			9,610			29,312			16,724
Net investment income	12,662			11,891			24,704			19,786
Net realized and unrealized gains (losses) on investments	18,591			1,409			28,056			(3,190)
Interest expense	4			447			8			894
Other income	24			28			48			993
Other expenses	872			161			1,444			399
Income before income taxes	46,439			22,330			80,668			33,020
Income tax expense	9,267			4,713			16,320			6,953
Net income	$	37,172		$	17,617		$	64,348		$	26,067
Less: Net income (loss) attributable to non-controlling interest - General Partner	3,721			(5)			5,431			(16)
Net income attributable to stockholders	$	33,451		$	17,622		$	58,917		$	26,083

Key Metrics
Adjusted net income attributable to stockholders (1)	$	33,545		$	17,857		$	59,147		$	26,400
Loss ratio	58.5		%	58.0		%	58.6		%	58.9		%
Expense ratio	27.5		%	31.0		%	28.0		%	31.0		%
Combined ratio (3)	85.9		%	88.9		%	86.6		%	89.9		%
Return on stockholders' equity (2)	20.7		%	14.3		%	18.4		%	10.9		%
Adjusted return on stockholders' equity (1) (2)	20.7		%	14.5		%	18.5		%	11.0		%
Diluted earnings per share	$	0.67		$	0.39		$	1.18		$	0.60
Adjusted diluted earnings per share(1)	$	0.67		$	0.41		$	1.19		$	0.62


	Three Months Ended June 30,
($ in thousands, except percentages)	2026				2025
	Expenses		% of Net Earned Premiums (2)		Expenses		% of Net Earned Premiums (2)
Policy acquisition costs	$	20,370	17.9	%	$	16,088	18.5	%
Operating expenses, net of fee income (1)	10,864		9.5	%	10,818		12.4	%
Underwriting, acquisition and insurance expenses, net of fee income	$	31,234	27.5	%	$	26,906	31.0	%


	Six Months Ended June 30,
($ in thousands, except percentages)	2026				2025
	Expenses		% of Net Earned Premiums		Expenses		% of Net Earned Premiums (2)
Policy acquisition costs	$	38,913	17.8	%	$	30,820	18.7	%
Operating expenses, net of fee income (1)	22,378		10.2	%	20,411		12.4	%
Underwriting, acquisition and insurance expenses, net of fee income	$	61,291	28.0	%	$	51,231	31.0	%


	Three Months Ended June 30,				Six Months Ended June 30,
($ in thousands)	2026		2025		2026		2025
Investment income
Fixed-maturity securities	$	8,846	$	6,460	$	17,201	$	12,725
Short-term investments	1,939		1,154		3,568		1,724
Cash equivalents	290		475		705		911

Loans to affiliates	1,524		1,543		3,053		1,793

Total fixed income	12,599		9,632		24,527		17,153
Utility & Infrastructure Investments	210		2,422		452		2,931
Other expenses	(147)		(163)		(275)		(298)
Net investment income	$	12,662	$	11,891	$	24,704	$	19,786

Net realized and unrealized gains (losses) on investments	$	18,591	$	1,409	$	28,056	$	(3,190)

We report our financial results in accordance with GAAP. However, we believe that certain non-GAAP financial measures provide investors in our common stock with additional useful information in evaluating our performance. Management believes that excluding certain items that are not indicative of core performance assists in evaluating our ability to generate earnings and to more readily compare these metrics between past and future periods. These non-GAAP financial measures may be different than similarly titled measures used by other companies.

We define underwriting income as income before income taxes excluding the impact of net investment income, net realized and unrealized gains (losses) on investments, other income, interest expense, and other expenses (which include expenses related to corporate activities and expenses recorded by us in connection with the Company’s initial public offering). Underwriting income is a measure of the pre-tax profitability of our underwriting operations and allows us to evaluate our underwriting performance without regard to net investment income among other things. We use this metric as we believe it gives our management and other users of our financial information useful insight into our underlying business performance. Underwriting income should not be viewed as a substitute for income before income taxes calculated in accordance with GAAP, and other companies may define underwriting income differently.


	Three Months Ended June 30,				Six Months Ended June 30,
($ in thousands)	2026		2025		2026		2025
Income before income taxes	$	46,439	$	22,330	$	80,668	$	33,020
Less:
Net investment income	(12,662)		(11,891)		(24,704)		(19,786)
Net realized and unrealized (gains) losses on investments	(18,591)		(1,409)		(28,056)		3,190
Other income	(24)		(28)		(48)		(993)
Add:
Interest expense	4		447		8		894
Other expenses	872		161		1,444		399
Underwriting income	$	16,038	$	9,610	$	29,312	$	16,724

We define adjusted net income attributable to stockholders as net income attributable to stockholders excluding certain other non-operating expenses, which include expenses recorded by us in connection with the Company’s initial public offering. We use adjusted net income attributable to stockholders as an internal performance measure in the management of our operations because we believe it gives our management and other users of our financial information useful insight into our results of operations and our underlying business performance. Adjusted net income attributable to stockholders should not be viewed as a substitute for net income attributable to stockholders calculated in accordance with GAAP, and other companies may define adjusted net income differently.


	Three Months Ended June 30,				Six Months Ended June 30,
($ in thousands)	2026		2025		2026		2025
Net income attributable to stockholders	$	33,451	$	17,622	$	58,917	$	26,083
Adjustments:
Other non-operating expenses (1)	119		298		291		401
Tax impact	(25)		(63)		(61)		(84)
Adjusted net income attributable to stockholders	$	33,545	$	17,857	$	59,147	$	26,400

We define adjusted return on stockholders’ equity as adjusted net income attributable to stockholders, expressed as a percentage of average beginning and ending stockholders’ equity during the period. Adjusted net income attributable to stockholders excludes the impact of certain items that may not be indicative of underlying business trends, operating results, or future outlook, net of tax impact. We use adjusted return on stockholders’ equity as an internal performance measure in the management of our operations because we believe it gives our management and other users of

our financial information useful insight into our results of operations and our underlying business performance. Adjusted return on stockholders’ equity should not be viewed as a substitute for return on stockholders’ equity calculated in accordance with GAAP, and other companies may define adjusted return on stockholders’ equity and adjusted net income attributable to stockholders differently.


	Three Months Ended June 30,						Six Months Ended June 30,
($ in thousands, except percentages)	2026			2025			2026			2025
Numerator: Adjusted net income attributable to stockholders, annualized (1)	$	134,180		$	71,428		$	118,294		$	52,800
Denominator: Average stockholders’ equity	647,709			493,253			639,352			478,998
Adjusted return on stockholders' equity	20.7		%	14.5		%	18.5		%	11.0		%

We define adjusted diluted earnings per share as adjusted net income attributable to stockholders, divided by weighted average common shares outstanding - diluted for the period. We use adjusted diluted earnings per share as an internal performance measure in the management of our operations because we believe it gives our management and other users of our financial information useful insight into our results of operations and our underlying business performance. Adjusted diluted earnings per share should not be viewed as a substitute for diluted earnings per share calculated in accordance with GAAP, and other companies may define adjusted diluted earnings per share differently.


	Three Months Ended June 30,				Six Months Ended June 30,
($ in thousands, except share and per share data)	2026		2025		2026		2025
Numerator: Adjusted net income attributable to stockholders	$	33,545	$	17,857	$	59,147	$	26,400
Denominator: Weighted-average shares outstanding - diluted	49,864,919		43,584,999		49,839,370		42,246,997
Adjusted diluted earnings per share	$	0.67	$	0.41	$	1.19	$	0.62

Ategrity will hold a conference call to discuss this press release today, July 29, at 5:00 p.m. Eastern Time. Interested parties may access the conference call via a live webcast, which can be accessed at https://events.q4inc.com/attendee/692692597 or by visiting the Company’s Investor Relations website. Please join the webcast at least 10 minutes before the scheduled start time. A replay of the event webcast will be available on the Company’s Investor Relations website approximately two hours following the call, for a period of at least 30 days.

Ategrity Specialty Insurance Company Holdings is a profitable and growing specialty insurance company dedicated to providing excess and surplus (“E&S”) products to small to medium-sized businesses across the United States. We have built a proprietary underwriting platform that combines sophisticated data analytics with automated and streamlined processes to efficiently serve our clients and deliver long-term value to our stockholders. The small to medium-sized business market is characterized by large volumes of small-sized policies, and we believe our competitive edge lies in our ability to offer consistent, high-speed, and low-touch interactions that our distribution partners value. This advantage stems from our technology-driven method of standardizing, simplifying, and automating our transaction process, which we call productionized underwriting.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. You can identify forward-looking statements in this press release by the use of words such as “anticipates,” “estimates,” “expects,” “intends,” “plans,” and “believes,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” These forward-looking statements include, among others, statements relating to our investments in automation and analytics and their expected impact and expected profitable growth. These forward-looking statements are based on management’s current expectations and assumptions about future events, which are inherently subject to uncertainties, risks, and changes in circumstances that are difficult to predict.

Our actual results may differ materially from those expressed in, or implied by, the forward-looking statements included in this press release as a result of various factors, including, among others: the risks and uncertainties discussed under the caption “Risk Factors” in our 2025 Form 10-K filed with the Securities and Exchange Commission, (the “SEC”) on March 4, 2026. Accordingly, you should read this press release completely and with the understanding that our actual future results may be materially different from what we expect.

Forward-looking statements speak only as of the date of this press release. Except as expressly required under federal securities laws and the rules and regulations of the SEC, we do not have any obligation, and do not undertake, to update any forward-looking statements to reflect events or circumstances arising after the date of this press release, whether as a result of new information, future events, or otherwise. You should not place undue reliance on the forward-looking statements included in this press release or that may be made elsewhere from time to time by us, or on our behalf. All forward-looking statements attributable to us are expressly qualified by these cautionary statements.


	June 30, 2026		December 31, 2025
	($ in thousands)
Assets:
Fixed-maturity securities available-for-sale, at fair value	$	611,314	$	558,428


Utility & Infrastructure Investments, at fair value	227,267		189,859
Short-term investments	228,919		220,241
Loans to affiliates	106,500		106,500
Other invested assets	1,766		280
Total invested assets	1,175,766		1,075,308

Cash and cash equivalents	$	33,327	$	29,721
Investment income due and accrued	10,497		10,186
Premiums receivable, net of allowance for credit losses	111,638		75,244
Deferred policy acquisition costs, net of ceding commissions	39,004		30,204
Income tax receivable	—		—
Deferred income tax asset, net	13,996		13,289
Reinsurance recoverable, net of allowance for credit losses	188,156		150,386
Ceded unearned premiums	76,555		74,317
Other assets	14,662		15,658
Total assets	1,663,601		1,474,313

Liabilities, stockholders' equity and non-controlling interest:
Liabilities:
Reserves for unpaid losses and loss adjustment expenses	$	583,933	$	502,248
Unearned premiums	337,260		281,864
Payable to reinsurers	39,434		31,064
Accounts payable and accrued expenses	27,671		31,684
Income tax payable	1,406		8,414
Other liabilities	3,522		4,180
Total liabilities	993,226		859,454

Stockholders' equity:
Total stockholders' equity	664,394		614,309
Non-controlling interest - General Partner	5,981		550
Total stockholders' equity and non-controlling interest	670,375		614,859
Total liabilities, stockholders' equity and non-controlling interest	1,663,601		1,474,313


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	($ in thousands, except share and per share data)
Revenues
Gross written premiums	$	206,762	$	167,502	$	349,689	$	283,645
Ceded written premiums	(53,325)		(50,231)		(77,545)		(76,503)
Net written premiums	153,437		117,271		272,144		207,142
Change in unearned premiums	(39,662)		(30,343)		(53,158)		(41,913)
Net earned premiums	113,775		86,928		218,986		165,229
Fee income	3,432		1,524		5,654		2,084
Net investment income	12,662		11,891		24,704		19,786
Net realized and unrealized gains (losses) on investments	18,591		1,409		28,056		(3,190)
Other income	24		28		48		993
Total revenues	148,484		101,780		277,448		184,902

Expenses
Losses and loss adjustment expenses	66,503		50,412		128,383		97,274
Underwriting, acquisition and insurance expenses	34,666		28,430		66,945		53,315




Interest expense	4		447		8		894
Other expenses	872		161		1,444		399
Total expenses	102,045		79,450		196,780		151,882

Income before income taxes	46,439		22,330		80,668		33,020
Income tax expense	9,267		4,713		16,320		6,953
Net income	37,172		17,617		64,348		26,067

Less: Net income (loss) attributable to non-controlling interest - General Partner	3,721		(5)		5,431		(16)
Net income attributable to stockholders	33,451		17,622		58,917		26,083

Other comprehensive income:
Unrealized gains (losses), net of taxes	2,559		152		(6,411)		38

Total comprehensive income attributable to stockholders	$	36,010	$	17,774	$	52,506	$	26,121

Earnings per share:
Basic	$	0.70	$	0.40	$	1.23	$	0.61
Diluted	$	0.67	$	0.39	$	1.18	$	0.60
Weighted-average shares outstanding:
Basic	48,008,741		42,084,982		48,037,544		41,191,609
Diluted	49,864,919		43,584,999		49,839,370		42,246,997