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MarketBeat
Thu, April 23, 2026 astatine 9:32 AM CDT 7 min read
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Solid quarter: Net earned premiums roseate astir 9% year‑over‑year to $75.1M (GWP $88.5M, +5.6%), and the institution delivered a combined ratio of 93.2% with operating net of $0.50 per share.
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Underwriting subject held up amid brushed pricing and rising aesculapian severity: the existent accident‑year nonaccomplishment ratio was 72%, prior‑year favorable improvement was $7.6M (10.1 points), and the disbursal ratio improved to 29.7%.
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Balance expanse and superior actions: the concern portfolio is high‑quality (AA‑, 4.4 twelvemonth duration) with new‑money yields lifting tax‑equivalent output to 3.9%, and the institution repurchased ~120,000 shares for $4M with $12.9M of buyback authorization remaining.
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AMERISAFE (NASDAQ:AMSF) reported first-quarter 2026 results that absorption characterized arsenic a “solid commencement to 2026,” citing premium growth, a sub-100 combined ratio, and continued underwriting subject contempt what executives described arsenic a prolonged brushed pricing situation successful workers’ compensation.
President and CEO Janelle Frost said the institution grew nett premiums earned by 9% twelvemonth implicit twelvemonth and delivered a combined ratio of 93.2%. AMERISAFE reported operating net of $0.50 per stock for the quarter.
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Frost framed results successful the discourse of a competitory workers’ compensation market, pointing to “persistent manufacture headwinds specified arsenic claims severity and economical uncertainty,” portion besides noting that workers’ compensation “remains the astir consistently profitable enactment wrong the P&C industry.” She attributed AMERISAFE’s show to its absorption connected “appropriately priced hazard enactment and heavy manufacture experience,” peculiarly wrong high-hazard industries.
Operations and Transformation Leader Vincent Gagliano said gross premiums written accrued 5.6% to $88.5 million, up from $83.8 cardinal successful the archetypal 4th of 2025. Retention connected policies offered for renewal was 92.4%.
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Gagliano said pricing “remained strong,” helping offset “continued downward unit successful filed nonaccomplishment costs.” He besides said caller concern opportunities continued to turn amid “steady competition,” and that combined caller and renewal voluntary premium accrued 8.2% successful the quarter.
In-force argumentation number roseate 1.7% during the 4th and was up 9.5% since the archetypal 4th of 2025, according to Gagliano. Audit premium and related adjustments were positive, adding $3.7 cardinal successful the 4th compared with $5.0 cardinal successful the year-ago period. Net earned premiums were $75.1 million, up 9% twelvemonth implicit year.
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