Q2 2026 Amerisafe Inc Earnings Call Transcript
Key Points
- AMERISAFE Inc (AMSF) delivered its ninth consecutive quarter of premium growth.
- The company achieved a return on average equity of 23.5%, indicating strong financial performance.
- Net premiums earned increased by 11.4% compared to the prior-year quarter, supported by strong renewal retention of over 93%.
- Gross premiums written increased by 7.9%, with voluntary premiums on policies written in the quarter increasing by 5.7% year over year.
- AMERISAFE Inc (AMSF) recognized $7.3 million of favorable reserve development during the quarter, reflecting the continued quality of its reserve position.
- The workers compensation market is experiencing gradual softening, with rate reductions and increasing medical costs.
- Claim frequency was up from the prior accident year at six months, returning closer to 2023 levels.
- Total underwriting and other expenses increased to $24.6 million compared to $21.7 million in the second quarter of 2025, driven by one-time items.
- Net investment income decreased by 2.4% from the second quarter of 2025, primarily due to lower average investable assets.
- Statutory surplus decreased to $200.8 million at quarter end compared with $217.8 million at year-end 2025.
Thank you. Good day and welcome to the Amerisafe second quarter 2026 earnings call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Kathryn Shirley, Chief Administrative Officer. Please go ahead.
Thank you, Operator, and good morning, everyone. Welcome to the Amerisafe 2026 second quarter investor call. If you have not received the earnings release, it is available on our website at amerisafe.com. This call is being recorded. A replay of today's call will be available.
Details on how to access the replay are in the earnings release. During this call, we will be making forward-looking statements intended to fall within the safe harbor provided under the securities laws. These statements are based on current expectations and assumptions that are subject to various risks and uncertainties.
Actual results may differ materially from the results expressed or implied in these statements. The underlying
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