Fair Value Measurements

The tables below presents information about the Company’s financial assets measured at fair value on a recurring

basis:


	December 31, 2025
	Total	Level 1	Level 2	Level 3
U.S. Treasury and U.S. government agencies	$30,722	$30,722	$—	$—
Corporate debt securities	206,799	—	206,799	—
Asset-backed securities	92,968	—	92,968	—
Short-term investments	18,121	—	18,121	—
Total	$348,610	$30,722	$317,888	$—


	December 31, 2024
	Total	Level 1	Level 2	Level 3
U.S. Treasury and U.S. government agencies	$75,234	$75,234	$—	$—
Corporate debt securities	108,790	28,222	80,568	—
Asset-backed securities	30,021	—	30,021	—
Total	$214,045	$103,456	$110,589	$—

The Company had no assets carried at fair value in the Level 3 category as of December 31, 2025 and December 31,

2024.

The Company classifies U.S. Treasury bonds and government agencies, short-term investments, and some corporate

debt securities within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in

active markets. Corporate debt securities and asset-backed securities categorized as Level 2 were valued using a

market approach. Valuations were based upon quoted prices for similar assets in active markets, quoted prices for

identical or similar assets in inactive markets, or valuations based on models where the significant inputs are

observable (e.g., interest rates, yield curves, prepayment speeds, default rates, loss severities) or can be corroborated

by observable market data.

During 2025 and 2024, the Company had no event or circumstance change that would cause an instrument to be

transferred between levels.

The following table summarizes the carrying value and estimated fair value of the Company’s financial instruments

not carried at fair value as of the date presented:


	December 31, 2025		December 31, 2024
	Carrying Value	Estimated Fair Value	Carrying Value	Estimated Fair Value
Long-term debt:
Surplus note	$618	$499	$1,029	$885

The Company’s long-term debt represents a surplus note and fair value was determined by management from the

expected cash flows discounted using the interest rate quoted by the holder. The Florida State Board of

Administration (“FSBA”) is the holder of the surplus note, and the quoted interest rate is equivalent to the 10-year

Constant Maturity Treasury Rate, adjusted quarterly. The Company’s use of funds from the surplus note is limited

by the terms of the agreement, therefore, the Company has determined the interest rate quoted by the FSBA to be

appropriate for purposes of establishing the fair value of the surplus note (Level 3).

About Fair Value Disclosures

Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.

Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.

American Integrity Insurance Group, Inc. Fair Value Disclosure

About Fair Value Disclosures

Other Available Disclosures