Surging into a resurgent IPO landscape, Ategrity Specialty Holdings LLC shattered expectations Wednesday, launching its $113.3 million initial public offering well above its projected range, in a bold market debut that signals investor hunger for niche insurers isn’t slowing.
The New York-based insurer, which serves small- and mid-sized businesses shunned by traditional carriers, sold 6.67 million shares at $17 apiece, outpacing its initial $14–$16 range and reflecting confidence in both its business model and market momentum. Trading under the ticker ASIC on the New York Stock Exchange, Ategrity is now valued at an estimated $800 million.
Rising Above Risk: Ategrity Targets the Underserved
Focused on excess and surplus lines insurance, Ategrity plays in a high-stakes field—covering risky ventures most mainstream insurers avoid. With a reach across 48 states, the company caters to businesses in hospitality, retail, construction, and real estate—a high-volatility arena it appears to navigate with precision.
In 2024, the firm posted $53.9 million in net income on $343.8 million in revenue, underscoring its profitability and potential as a rising force in a complex insurance niche.
