AMERISAFE earnings fall to $7.196 million despite growth in net premiums earned
Key Facts
AMERISAFE reported on October 28 results for the third quarter ended September 30, 2026, with net income of $7.196 million and diluted earnings per share of $0.39, compared with $13.818 million and $0.72, respectively, in the same quarter of 2025. The decline came despite higher net premiums earned, as the company said competition and operating costs weighed on results. Nasdaq quoted the company’s statement as saying loss and loss adjustment expenses benefited from “favorable development of $6.9 million in claims reserves.” AMERISAFE held an investor call on October 29 to discuss its financial performance. It also declared a quarterly cash dividend of $0.41 per share, payable on December 11 to shareholders of record on December 4.
Net premiums earned at the workers’ compensation insurer rose 3.0% to $73.321 million in the third quarter, from $71.196 million a year earlier. Gross premiums written moved in the opposite direction, falling 4.5% to $76.673 million from $80.321 million. The divergence between the two measures reflects growth in premiums earned during the period, alongside a decline in the volume of new premiums written compared with the third quarter of 2025. The company said increased competition in the workers’ compensation insurance market and weaker premium audits contributed to pressure on the combined expense ratio. It added that higher expenses compounded the pressure, while favorable reserve development limited loss expenses.
In the banking sector, MVB Financial reported net income of $0.4 million, or $0.03 per diluted share, in the third quarter of 2026. The company attributed the result primarily to a $9.9 million provision for credit losses, according to its statement cited by Nasdaq. Nonperforming loans totaled $46.8 million on September 30, equal to 1.9% of total loans. Nonperforming loans increased by $17.6 million during the quarter, and the company attributed $13.1 million of the increase to one land development and acquisition loan. These figures put the credit provision in the context of the asset quality the company disclosed at quarter-end, without changing its reported net income.
At the U.S. economic level, the Bureau of Economic Analysis’ advance estimate showed real gross domestic product grew at an annual rate of 3.4% in the third quarter of 2026, following growth of 2.2% in the second quarter. The bureau said the acceleration came mainly from faster investment growth and a shift to an increase in government spending. These were partly offset by a decline in exports, according to its breakdown of growth components. The estimate places companies’ reported performance during earnings season in a period when economic growth accelerated from the previous quarter. The bureau is scheduled to release its second estimate of third-quarter gross domestic product on November 25, 2026.