Amerisafe AMSF Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Thu, April 23, 2026 astatine 10:27 AM CDT 17 min read

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Thursday, April 23, 2026 astatine 10:30 a.m. ET

• President and Chief Executive Officer — Janelle Frost

• [Executive, Finance/Underwriting] — Vincent [surname not provided]

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Janelle Frost: Thank you, Kathryn, and bully afternoon. We are pleased with our coagulated commencement to 2026, marked by continued growth, disciplined execution, and charismatic underwriting performance. During the quarter, we grew nett premiums earned by 9%. We besides delivered a combined ratio of 93.2% and produced operating net of $0.50 per share. These results bespeak dependable operating momentum amidst the competitory backdrop facing the workers' compensation industry. The workers' compensation marketplace remains competitory and continues to run successful a prolonged brushed pricing situation amid persistent manufacture headwinds specified arsenic claims severity and economical uncertainty. At the aforesaid time, workers' compensation remains the astir consistently profitable enactment wrong the P&C industry, supported by semipermanent assertion improvement and unchangeable superior structures.

In this environment, sustained occurrence depends connected appropriately priced hazard enactment and heavy manufacture experience. At AMERISAFE, Inc., our differentiated attack to servicing high-hazard industries continues to enactment accordant returns crossed the cycle. Our eighth consecutive 4th of premium growth, continued betterment successful our disbursal ratio, and favorable prior-year nonaccomplishment improvement underscore the spot of our operating exemplary and the dedication of our team. We judge these fundamentals presumption america good to navigate existent marketplace conditions portion continuing to make semipermanent worth for our shareholders. I volition present crook the telephone implicit to Vincent to locomotion done the details of our maturation and underwriting show for the quarter.

Vincent: Thanks, Janelle. In 2026, gross premiums written were $88.5 cardinal compared to $83.8 cardinal successful 2025, an summation of 5.6%. Retention for policies for which we offered renewal was 92.4% successful the quarter, and pricing remained strong, helping offset continued downward unit successful filed nonaccomplishment costs. New concern opportunities proceed to turn contempt dependable competition. Together, caller and renewal voluntary premium accrued 8.2% successful the quarter, reflecting ongoing investments successful organisation effectiveness and designation of our committedness to delivering outstanding information and assertion services to our policyholders. In-force argumentation number accrued 1.7% successful the 4th and 9.5% since Q1 2025. Audit premium and related adjustments remained positive, adding $3.7 cardinal successful the 4th compared to $5 cardinal successful 2025.