American Integrity Insurance initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of American Integrity Insurance (AII) with an Overweight rating and $20 price target American Integrity is a profitable and growing Florida insurer operating in an environment that has become incrementally more favorable and is expanding through Citizens takeouts, the analyst tells investors in a research note. The firm says meaningful tort reform in the state of Florida should reduce claims costs related to litigation.