American Integrity Insurance Group, the Tampa-based property and casualty insurance holding company, has completed the full placement of its indemnity-based catastrophe excess of loss reinsurance programme for the 2026–2027 term. The cover, arranged for its insurance subsidiary American Integrity Insurance Company (AIIC), became effective on June 1, 2026.
The company said the renewal environment was supportive, pointing to a well-capitalised reinsurance market, the effect of Florida legislative reforms, and a comparatively quiet 2025 hurricane season. Against that backdrop, the insurer secured broader protection while also improving parts of its retention structure despite continued growth in exposure.
The programme delivers $2.25 billion in third-party catastrophe excess of loss protection for a single catastrophic event. Across all covered occurrences, the total third-party limit rises to $2.99 billion, an increase of $409.1 million, or 15.8%, from the previous treaty year.
For the 2026 treaty year, total ceded catastrophe reinsurance premiums are expected to fall in a range of $430 million to $440 million. The first-event tower, including retentions, remains aligned with a roughly 1-in-130-year return period, keeping the overall structure broadly in line with the prior year’s programme.
Even with an estimated 19% increase in peak-season in-force exposure, American Integrity reported an improved net retention profile. The first-event retention stays at $35 million, while the second-event retention for named storms declines from $35 million to $20 million. Of that second-event amount, AIIC retains $10 million, with the remainder held by its segregated cell captive reinsurer.
The third-event net retention is reduced from $15.8 million to $10 million, while the fourth-event retention remains unchanged at $10 million and is retained by AIIC. On a four-event basis, aggregate net retention improves from $95 million to $75 million. In addition, the ex-Florida first-storm retention drops sharply from $35 million to $10 million.
How the Reinsurance Tower Is Structured
The protection stack combines traditional reinsurance, insurance-linked securities, the Florida Hurricane Catastrophe Fund, and support from a captive reinsurer. Traditional reinsurers account for $1.65 billion of limit, up from $1.1 billion in the previous year, and this portion does not include any material multi-year coverage.
The insurance-linked securities segment includes $565 million of catastrophe bonds issued in 2025 that mature in May 2027, along with an additional $260 million issued in 2026 on improved pricing terms and extending to May 2029. The Florida Hurricane Catastrophe Fund contributes $572 million of limit at a 90% participation level.
Management View on Pricing and Terms
Jon Ritchie, President of American Integrity, said the company successfully completed its 2026–2027 catastrophe excess of loss placement with meaningful benefits in pricing and structure. He noted that the programme captured risk-adjusted rate reductions at the upper end of a U.S. property catastrophe market that had been widely expected to decline by 15% to 20% at the June 1 renewal, while also improving terms, conditions, and net retention.
Ritchie added that ongoing growth in premium volume and insured exposure over the last year made it necessary to expand the total third-party excess of loss reinsurance limit for all occurrences. As a result, the company increased that limit by $409.1 million, bringing the total to $2.99 billion for the 2026 treaty structure.
