AMSF · Amerisafe, Inc. Q2 FY2026 earnings call record财报电话会记录

“If the underlying assumptions prove to be incorrect or as a result of risks, uncertainties, and other factors, including factors discussed in the earnings release, in the comments made during today's call, and in the Risk Factors section of our Form 10-K, Form 10-Qs, and other reports and filings with the Securities and Exchange Commission.”

“With me on the call today is Guillermo Ramos, our Chief Financial Officer, and Vincent Gagliano, our Chief Risk Officer.”

“Rate reductions, increasing medical costs, moderating reserve redundancies, and heightened competition continue to pressure industry-wide results.”

“Net premiums earned increased 11.4% compared to the prior year quarter, supported by strong renewal retention of over 93%, growth in policy count, and favorable audit premium activity.”

“While the market environment presents its challenges, we believe AMERISAFE is well-positioned due to our strong customer retention, specialized expertise, financial strength, and exceptional employee culture.”

“Net premiums earned increased 11.4% to $77.3 million from $69.4 million in the second quarter of 2025, reflecting continued success in our organic growth initiatives.”

“Turning to investments, net investment income was $6.5 million in the quarter, a decrease of 2.4% from the second quarter of 2025, primarily reflecting lower average investable assets following capital return to shareholders through dividends and share repurchases.”

“During the quarter, we repurchased approximately 181,000 shares at an average price of $30.58 per share, representing $5.6 million return to shareholders.”

“Lastly, we will file our Form 10-Q with the SEC tomorrow, July 23, 2026, after the market closes.”

“The total for the bad debt was approximately $700,000.”

“We still feel good about our mid-single-digit growth trajectory in terms of sustaining that going forward.”

“I think as an industry, everyone recognizes that there's pressure there from a medical inflation standpoint, and that's why we're such big proponents of fee schedules and having vendors and third parties adherent to those fee schedules because it does help contain costs.”