AMERISAFE Announces 2026 Third Quarter Results
Key Highlights
- ➤Net premiums earned $73.3 million, up 3.0% year over year
- ➤Net income $7.2 million, down 47.9%; diluted EPS $0.39
- ➤Net combined ratio worsened to 96.5% from 90.6%
- ➤Underwriting profit fell 62.6% to $2.5 million
- ➤Quarterly dividend $0.41 per share, up 5.1% year over year
Expert Statements
G. Janelle Frost, President and Chief Executive Officer of AMERISAFE
“Third-quarter results reflected an increasingly competitive workers’ compensation market, softer audit premium, and higher expenses that weighed on our net combined ratio.”
G. Janelle Frost, President and Chief Executive Officer of AMERISAFE
“At the same time, we maintained disciplined pricing, delivered favorable prior-year loss reserve development and saw encouraging improvement in new business activity late in the quarter.”
G. Janelle Frost, President and Chief Executive Officer of AMERISAFE
“As we move forward, we remain focused on sustaining that momentum, while continuing to apply the underwriting discipline, proactive claims management and specialized safety expertise that underpin AMERISAFE’s long-term value.”
AMERISAFE, Inc. (Nasdaq: AMSF), a specialty provider of workers’ compensation insurance focused on high-hazard industries, today announced results for the third quarter ended September 30, 2026.
Three Months EndedNine Months Ended September 30,September 30, 20262025% Change20262025% Change (in thousands, except per share data)(in thousands, except per share data) Gross premiums written$ 76,673$ 80,321-4.5%$ 251,141$ 243,8093.0% Net premiums earned73,32171,1963.0%225,666209,4627.7% Net investment income6,6056,5660.6%19,73019,909-0.9% Net realized (losses) gains on investments (pre-tax)(54)-NM(144)3,118NM Net unrealized (losses) gains on equity securities (pre-tax)(193)4,117NM6,2672,794NM Net income7,19613,818-47.9%29,93636,722-18.5% Diluted earnings per share$ 0.39$ 0.72-45.8%$ 1.60$ 1.92-16.7% Operating net income7,39110,566-30.0%25,09932,052-21.7% Operating earnings per share$ 0.40$ 0.55-27.3%$ 1.34$ 1.68-20.2% Book value per share$ 12.80$ 14.47-11.5%$ 12.80$ 14.47-11.5% Net combined ratio96.5 %90.6 %95.0 %90.5 % Return on average equity11.8 %20.5 %16.3 %18.4 %
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