AMERISAFE INC — Form 8-K
Filed October 28, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 48/100
What the filing says
AMERISAFE reported Q3 2026 net premiums earned of $73.3M (up 3.0% vs. Q3 2025's $71.2M) and nine-month premiums of $225.7M (up 7.7% vs. $209.5M). However, net income fell 47.9% to $7.2M (Q3) and 18.5% to $29.9M (9M) due to higher loss ratios (62.6% vs. 58.5% in Q3), elevated operating expenses (32.5% ratio vs. 31.1%), and competitive market pressure. Book value per share declined 11.5% to $12.80. The company repurchased 5,450 shares at $30.18/share ($0.2M in Q3) and raised the quarterly dividend 5.1% to $0.41/share.
Why this rating
Meaningful earnings decline (down ~48% Q3, ~19% YTD) and deteriorating underwriting ratios signal competitive/operational headwinds. Relative to $820M market cap, premium growth (3%) is modest. Material but not trajectory-altering.
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