Ategrity Specialty Insurance Company Holdings (ASIC)

ASIC Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023
Net Income	76.13	53.95	10.1
Depreciation & Amortization	0.59	0.7	0.23
Stock-Based Compensation	1.02	2.01	0.03
Other Adjustments	-32.84	-39.24	-6.97
Changes in Receivables	-21.74	-4.4	-6.17
Changes in Reinsurance Contract Assets	-21.91	-41.81	-0.16
Changes in Deferred Acquisition Costs	-8.65	1.69	-3.6
Changes in Accounts Payable	-2.5	41.65	5.69
Changes in Unearned Premiums	69.04	38.92	38.43
Changes in Claims Reserves	98.67	82.64	44.5
Changes in Income Taxes Payable	-10.21	17.64	8.85
Changes in Other Operating Activities	-0.41	-28.14	-5.23
Operating Cash Flow	147.19	125.61	85.71
Operating Cash Flow Growth	17.18%	46.56%	-
Purchases of Investments	-580.42	-480.63	-195.35
Proceeds from Sale of Investments	405.73	117.52	209.92
Other Investing Activities	-99.47	-0.16	-0.07
Investing Cash Flow	-274.15	-363.27	14.51
Issuance of Common Stock	144.45	-	35
Repurchase of Common Stock	-2.74	-	-
Net Common Stock Issued (Repurchased)	141.71	-	35
Common Dividends Paid	-6.86	-0.41	-2.73
Other Financing Activities	-4.74	-	-
Financing Cash Flow	130.11	-0.41	32.28
Net Cash Flow	3.15	-238.07	132.49
Free Cash Flow	147.19	125.61	85.71
Free Cash Flow Growth	17.18%	46.56%	-
FCF Margin	34.69%	36.53%	35.52%
Free Cash Flow Per Share	3.18	3.43	0.00
Levered Free Cash Flow	99.95	77.75	54.26
Unlevered Free Cash Flow	104.44	87.67	56.26

Updated Dec 31, 2025. Data Source: Fiscal.ai. Insurance template. Financial Sources.

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