Press Release|Insurance
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KBRA Affirms Ratings for American Integrity Insurance Company of Florida and American Integrity Insurance Group Inc.

23 Dec 2025   |   New York

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KBRA affirms the BBB+ insurance financial strength rating (IFSR) for American Integrity Insurance Company of Florida (“American Integrity” or “AIIC”) and the BB+ issuer rating for American Integrity Insurance Group Inc. The Outlook for both ratings is Stable.

The ratings reflect American Integrity's continued progress in strengthening its earnings profile, supported by favorable non-catastrophe loss trends, disciplined underwriting, and more predictable loss emergence under Florida’s post-reform environment. Profitability has been aided by reduced litigation and enhancements to pricing and ITV practices, contributing to more stable attritional results. Citizens take-out activity has provided additional scale without materially altering inforce risk characteristics, and results for these cohorts have been generally consistent with the broader book. Capitalization remains sound, supported by ongoing surplus growth and a conservative investment portfolio characterized by short duration and high credit quality. Liquidity remains strong and appropriate for the company’s risk profile.

Balancing these strengths are American Integrity’s concentration in Florida’s residential property market, significant exposure to hurricane risk, and continued reliance on reinsurance to manage exposures. While the company benefits from a comprehensive catastrophe reinsurance program that includes meaningful vertical and horizontal protection, event risk exposure remains elevated given the company’s geographic footprint. Gross premium and ceded leverage remain elevated relative to benchmarks, reflecting both exposure growth and structural dependence on reinsurance. Although the company has begun to establish a presence outside Florida, non-Florida writings are not yet material to earnings diversification.

To access ratings and relevant documents, click here.

Click here to view the report.

Methodologies

Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan’s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.

Doc ID: 1012831