AMERISAFE Inc 2026年季度报告

TABLE OF CONTENTS FORWARD-LOOKING STATEMENTS PART I - FINANCIAL INFORMATION Item 1Financial StatementsItem 2Management’s Discussion and Analysis of Financial Condition and Results of Operations CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and 21E ofthe Securities Exchange Act of 1934. Forward-looking statements are all statements other than statements of historical facts. Youshould not place undue reliance on these statements. These forward-looking statements include statements that reflect the currentviews of our senior management with respect to our financial performance and future events with respect to our business and the Forward-looking statements address matters that involve risks and uncertainties. Forward-looking statements are notguarantees of future performance. Accordingly, there are or will be important factors that could cause our actual results to differ •the cyclical nature of the workers’ compensation insurance industry;•increased competition on the basis of types of insurance offered, premium rates, coverage availability, payment terms,claims management, safety services, policy terms, overall financial strength, financial ratings and reputation;•changes in relationships with independent agencies (including retail and wholesale brokers and agents);•general economic conditions, including recession, inflation, performance of financial markets, interest rates,unemployment rates, fluctuating asset values and global health pandemics;•developments in capital markets that adversely affect the performance of our investments;•technology breaches or failures, including those resulting from a malicious cyber attack on the Company or its The foregoing factors should not be construed as exhaustive and should be read together with the other risks described in thisreport, including, but not limited to, under the captions “Business” in Item 1, “Risk Factors” in Item 1A , “Cybersecurity” in Item1C, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Item 7, and “Quantitative andQualitative Disclosures About Market Risk” in Item 7A of our Annual Report on Form 10-K for the year ended December 31, 2025and this report, as applicable, and as may be further amended by subsequent filings with the SEC. If one or more events related tothese or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ obligation to update or revise any forward-looking statements, which speak only as of the date made, notwithstanding any changesin its assumptions, actual experience or other changes that arise after the date of this report. AMERISAFE, INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS Note 1. Basis of Presentation AMERISAFE, Inc. is an insurance holding company incorporated in the state of Texas. The accompanying unauditedconsolidated financial statements include the accounts of AMERISAFE and its wholly-owned subsidiaries: American InterstateInsurance Company (AIIC) and its wholly owned insurance subsidiaries, Silver Oak Casualty, Inc. (SOCI) and American InterstateInsurance Company of Texas (AIICTX); Amerisafe Risk Services, Inc. (RISK); and Amerisafe General Agency, Inc. (AGAI). AIICand SOCI are property and casualty insurance companies organized under the laws of the state of Nebraska. AIICTX is a property The terms “AMERISAFE,” the “Company,” “we,” “us” or “our” refer to AMERISAFE, Inc. and its consolidated subsidiaries,as the context requires. The Company provides workers’ compensation insurance for small to mid-sized employers engaged in hazardous industries,principally construction, trucking, logging and lumber, agriculture, services, manufacturing, and maritime. Assets and revenues of In the opinion of management of the Company, the accompanying unaudited consolidated financial statements contain alladjustments (consisting of normal recurring accruals) necessary to present fairly the financial position, the results of operations andcash flows for the periods presented. The unaudited consolidated financial statements have been prepared in accordance with theinstructions to Form 10-Q under the Securities Exchange Act of 1934, as amended (the Exchange Act), and therefore do not include The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptionsthat affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial Adopted Accounting Guidance The Company has not adopted any new accounting guidance in 2026. Prospective Accounting Guidance In November 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2024-03,Expense Disaggregation Disclosures, which requires disclosure of specified information about certa