Business
AMERISAFE Announces 2026 First Quarter Results
DERIDDER, La., April 22, 2026--AMERISAFE Announces 2026 First Quarter Results
About this update from Amerisafe, Inc.
Reports 8.2% Growth in Voluntary Premiums on Policies Written DERIDDER, La., April 22, 2026 --( BUSINESS WIRE )--AMERISAFE, Inc. ( Nasdaq: AMSF ), a specialty provider of workers’ compensation insurance focused on high-hazard industries, today announced results for the first quarter ended March 31, 2026. G. Janelle Frost, President and Chief Executive Officer, commented, "AMERISAFE delivered a strong start to 2026, marking our eighth consecutive quarter of growth in both gross premiums written and net premiums earned, with net premiums earned increasing 9.0% during the first quarter. We continued to demonstrate expense discipline, achieving a third consecutive quarter of year over year improvement in the expense ratio. Despite a competitive market environment, we believe our targeted focus on high hazard industries continues to create meaningful opportunities for profitable growth and attractive returns on equity. Our disciplined underwriting approach, strong balance sheet, and consistent capital management—supported by the dedication of our employees—remain central to our strategy. We are confident in our ability to execute our long-term objectives and to deliver reliable value for shareholders while providing exceptional service to small and mid-sized businesses and their workers." CAPITAL MANAGEMENT During the first quarter of 2026, the Company paid a regular quarterly cash dividend of $0.41 per share on March 20, 2026, representing a 5.1% increase compared to the first quarter of 2025. On April 21, 2026, the Board of Directors of AMERISAFE declared a quarterly cash dividend of $0.41 per share, payable on June 19, 2026, to shareholders of record as of June 12, 2026. Also during the quarter, the Company repurchased 119,959 shares of its common stock under the Company’s share repurchase program at an average cost of $33.60 per share, including commissions and excise tax, for a total of $4.0 million. Since the inception of its share repurchase program in 2010, the Company has repurchased 2,094,099 shares at an average cost of $27.79 per share, including commissions and excise tax, for a total of $58.2 million. The remaining outstanding share repurchase authorization under the program as of March 31, 2026, was $12.9 million. Book value per share at March 31, 2026, was $13.18, a decrease of 1.6% from $13.39 at December 31, 2025. NON-GAAP FINANCIAL MEASURES This release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the U.S. Securities and Exchange Commission (the SEC) and includes a reconciliation of non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP in the Supplemental Information in this release. Management believes that investors’ understanding of core operating performance is enhanced by AMERISAFE’s disclosure of these standard industry financial measures, which include operating net income, average adjusted shareholders’ equity, operating return on average adjusted equity, and operating earnings per share. CONFERENCE CALL INFORMATION AMERISAFE has scheduled a conference call for April 22, 2026, at 4:30 p.m. Eastern Time to discuss the results for the quarter. To participate in the conference call, dial 786-297-8744 (Conference Code: 5803016) at least ten minutes before the call begins. Investors, analysts, and the general public will also have the opportunity to listen to the conference call over the Internet by visiting the "Investor Relations Home" page of the "Investors" section of the Company’s website ( http://www.amerisafe.com ). To listen to the live call on the web, please visit the website at least fifteen minutes before the call begins to register, download, and install any necessary audio software. For those who cannot listen to the live webcast, an archive will be available shortly after the call at the same website location. ABOUT AMERISAFE AMERISAFE, Inc. is a specialty provider of workers’ compensation insurance focused on small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, agriculture, services, manufacturing, and maritime. AMERISAFE actively markets workers’ compensation insurance in 27 states. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Statements made in this press release that are not historical facts, including statements accompanied by words such as "will," "believe," "anticipate," "expect," "estimate," or similar words, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding AMERISAFE’s plans, expectations and performance. These statements are based on management’s estimates, assumptions and projections as of the date of this release and are not guarantees of future performance, and include statements regarding management’s current views and expectations of the workers’ compensation insurance market, AMERISAFE’s growth opportunities, underwriting margins and actions by competitors. Investors are cautioned that many of the assumptions upon which these forward-looking statements are based might change after the date the forward-looking statements are made. Actual results may differ materially from the results expressed or implied in the forward-looking statements if the underlying assumptions prove to be incorrect or changes otherwise occur, or as the results of the materialization of risks, uncertainties and other factors impacting the business and operations of the Company, our policyholders or the market value of our investment portfolio. Factors that may affect our results are set forth in the Company’s filings with the SEC, including AMERISAFE’s Annual Report on Form 10-K and as may be further amended by subsequent filings with the SEC. AMERISAFE cautions you not to place undue reliance on the forward-looking statements contained in this release. AMERISAFE does not undertake any obligation to update or revise any forward-looking statements, which speak only as of the date made, notwithstanding any changes in its assumptions, changes in business plans, actual experience or other changes that arise after the date of this release. Share repurchases may be effected from time to time pursuant to trading plans meeting the requirements of Rule 10b5-1 under the Exchange Act. The share repurchase program does not obligate the Company to repurchase any shares of the Company’s common stock and may be modified, increased, suspended or terminated at the discretion of the Board. The Board’s determination will depend on a variety of factors, including but not limited to, market conditions and applicable regulatory considerations. It is anticipated that any future repurchases will be funded from available capital. - Tables to Follow - View source version on businesswire.com: https://www.businesswire.com/news/home/20260422198013/en/ Contacts G. Janelle Frost President & CEO AMERISAFE 337.463.9052