AMERISAFE reported net income of $14.6 million for the second quarter ended June 30, 2026, an increase of 4.6% compared to the prior year. Diluted earnings per share rose 6.8% to $0.78. The company achieved a return on average equity of 23.5% for the quarter, supported by a 7.9% increase in gross premiums written to $85.9 million. Net premiums earned grew 11.4% to $77.3 million, reflecting strong audit premium production and organic growth initiatives.

Financial Results

The company reported operating net income of $8.3 million, or $0.44 per diluted share, influenced by a one-time bad debt write-off of $700,000. Net investment income decreased 2.4% to $6.5 million, driven by lower average investable assets following capital return activities. Despite the decline in income, the tax-equivalent book yield increased to 3.9%, up 6 basis points from the prior year. The net combined ratio for the quarter was 95.4%, compared to 91.7% in the second quarter of 2025.

Insurance Operations

Underwriting profit for the quarter was $3.6 million, a decrease of 37.9% from the prior year. The current accident year loss ratio was 72.0%, compared to 71.0% in the second quarter of 2025. Loss and loss adjustment expenses incurred were $48.3 million, an increase of 18.9% year-over-year. Favorable reserve development from prior accident years totaled $7.3 million.

Capital Management

During the second quarter of 2026, AMERISAFE repurchased 181,000 shares of its common stock at an average cost of $30.58 per share, totaling $5.6 million. Book value per share at June 30, 2026, was $13.49. On July 21, 2026, the Board of Directors declared a quarterly cash dividend of $0.41 per share, payable on September 25, 2026, to shareholders of record as of September 11, 2026. Statutory surplus stood at $200.8 million at quarter end.

AMERISAFE, Inc. has been named to the Ward’s Top 50 property and casualty insurers list for the 18th consecutive year, placing it among the top-performing insurers in the nation. The 2026 ranking evaluates nearly 2,900 property and casualty insurers based on financial performance, safety, and consistency over a five-year period. This recognition underscores the company's sustained operational strength and underwriting discipline in the specialty insurance sector.

Janelle Frost, President and CEO, attributed the achievement to the company's focused approach and workforce dedication. She stated that the recognition reflects the strength of their underwriting discipline and commitment to excellence. Frost expressed gratitude to employees for their dedication to the company's mission, customers, and mutual success.

Ward’s Top 50 Benchmark

The Ward’s Top 50 benchmark is a recognized industry standard that assesses insurance companies on several key metrics over a five-year period. The evaluation focuses on financial performance, safety, and consistency to identify the top-performing property and casualty insurers in the United States.

About AMERISAFE

AMERISAFE, Inc. is a specialty provider of workers’ compensation insurance focused on small to mid-sized employers engaged in hazardous industries. The company actively markets its products in 27 states, targeting sectors such as construction, trucking, logging and lumber, agriculture, services, manufacturing, and maritime.