American Integrity's 15-min chart: Bollinger Bands expanding downward, bearish marubozu.

American Integrity's 15-minute chart exhibits a downward trend as evidenced by the expanding Bollinger Bands and a bearish Marubozu at 09:00 on September 10, 2025. This suggests that sellers are driving the market, indicating bearish momentum and a potential continuation of the downward trend.

Insurance initial public offerings (IPOs) have shown a significant resurgence in 2025, with five listings already completed and a robust pipeline expected for the remainder of the year. According to Stonybrook Capital, the uptick in insurance IPOs is driven by improved underwriting profitability and investor demand for "stable, defensive sectors" More insurance IPOs expected after breakout year for issuances, says Stonybrook^[1].

The report highlights that Slide Insurance, Accelerant Holdings, Aspen Insurance, Ategrity, and American Integrity have all successfully gone public this year, with many trading above their initial guidance. This trend is attributed to a combination of improved underwriting profitability and investor interest in stable sectors. Notably, American Integrity's IPO is a standout example, demonstrating investor interest in smaller-cap issuers More insurance IPOs expected after breakout year for issuances, says Stonybrook^[1].

The U.S. property and casualty (P&C) industry's swing to a $24.8 billion underwriting gain in 2024 has further bolstered favorable valuations for insurance IPOs. While broker IPOs are also anticipated, the pace may be slower due to ongoing system integrations More insurance IPOs expected after breakout year for issuances, says Stonybrook^[1].

Stonybrook also notes that technological innovation and modernization play a crucial role in insurance IPO valuations. Ninety-nine percent of large insurers are exploring investments in AI to improve operations such as underwriting and risk assessment. This trend has become essential for enhancing investor sentiment and IPO valuations More insurance IPOs expected after breakout year for issuances, says Stonybrook^[1].

The insurance sector's return to favor among investors is evident, with listed insurers outperforming the broader market in 2024 and early 2025. However, recent listed insurers have lost momentum, currently down 8% from their July highs, against a backdrop of the broader insurance sector underperforming since its peak in early May More insurance IPOs expected after breakout year for issuances, says Stonybrook^[1].

Stonybrook's report also identifies several insurance IPO valuation trends, including increased M&A activity and private equity involvement in the public company market. The firm highlights that Sompo Holdings' acquisition of Aspen Insurance for $3.5 billion shortly after its IPO exemplifies this trend More insurance IPOs expected after breakout year for issuances, says Stonybrook^[1].

The insurance IPO pipeline for the second half of 2025 is expected to remain selective, with issuers favoring market stability and traditional IPO structures over SPACs or direct listings. Several companies, including private equity-backed brokers and direct-to-consumer insurers, are anticipated to file for IPOs in the last weeks of October or early November More insurance IPOs expected after breakout year for issuances, says Stonybrook^[1].

In conclusion, 2025 is shaping up to be a breakout year for insurance IPOs, driven by a combination of improved profitability, investor demand, and technological innovation. As the year progresses, investors can expect to see a continued focus on stable, defensive sectors and the impact of technological advancements on insurance valuations.