American Integrity Insurance Group announced it has fully placed its 2025-2026 indemnity-based, catastrophe excess-of-loss reinsurance program for its insurance subsidiary, American Integrity Insurance Company of Florida, Inc. The program will take effect on June 1.
Robert Ritchie (pictured above), CEO of American Integrity, said the company completed the reinsurance placement in response to significant growth in premium and exposure over the past year.
As a result, the company increased its reinsurance limit by US$799 million, bringing the total to US$2.59 billion.
“The placement is a combination of protection provided by traditional reinsurers, insurance linked securities (ILS) investors, the Florida Hurricane Cat Fund and our captive reinsurer,” Ritchie said.
The reinsurance program provides third-party coverage of US$1.93 billion for a single catastrophic event. Total third-party coverage for all events during the treaty period is US$2.59 billion, reflecting a 45% increase compared to the 2024 program.
Total incurred net consolidated catastrophe reinsurance premiums ceded to third parties are projected to reach US$433 million for the 2025-2026 treaty year, an increase of US$96 million or 28% over the prior year. The increase corresponds with the larger reinsurance limit and reflects the company’s expanded exposure and premium base following the Citizens take-outs and organic growth.
Net consolidated catastrophe reinsurance premiums ceded to third parties are expected to reach US$433 million for the 2025-2026 treaty year, up 28% from the prior year’s estimate.
The program also includes US$565 million in multi-year indemnity coverage secured through catastrophe bonds issued by Integrity Re III Ltd. in 2025. This transaction marks the company’s eighth and largest ILS deal.
American Integrity’s net retention stands at US$35 million for each of the first and second catastrophic events, with US$10 million retained by the insurance subsidiary and US$25 million by the company’s segregated cell captive reinsurer.
For the third and fourth events, net retention declines to US$15.8 million and US$10 million, respectively, and is fully retained by the insurance subsidiary.
The company said that the increased coverage and net retention align with its growth in written premium, exposure, and capital.
“We are grateful for the ongoing support of the global catastrophe reinsurance community, who have been essential to Florida’s ability to withstand multiple catastrophic events in recent years,” American Integrity president Jon Ritchie said.
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