AMERISAFE, Inc.

Ladies and gentlemen, please stand by. We are about to begin. Good day and welcome to the AmeriSafe Third Quarter 2026 Earnings Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Kathryn Shirley, Chief Administrative Officer. Please go ahead.

Thank you, operator, and good morning, everyone. Welcome to the AmeriSafe 2026 Third Quarter Investor Call. If you have not received the earnings release, it is available on our website at amerisafe.com. This call is being recorded. A replay of today's call will be available. Details on how to access the replay are in the earnings release. During this call, we will be making forward-looking statements intended to fall within the safe harbor provided under the security clause. These statements are based on current expectations and assumptions. that are subject to various risks and uncertainties. Actual results may differ materially from the results expressed or implied in these statements. If the underlying assumptions prove to be incorrect, or if the results of risk, 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-Q, and other reports and filings with the Securities and Exchange Commission. We do not undertake any duty to update any forward-looking statements. I will now turn the call over to Janelle Frost, Amerisafe's President and CEO.

Thank you, Kathryn, and good morning, everyone. Joining me today are Guillermo Ramos, our Chief Financial Officer, and Vincent Gagliano, our Chief Risk Officer. Amerisafe continues to demonstrate the disciplined underwriting, reserve strength, and capital management that we've defined our company throughout multiple market cycles. While competitive pressures and workers' compensation were elevated, the quarter reinforced several key strengths of our franchise. We grew policy count, we achieved strong renewal retention, we generated favorable reserve development, and maintained exceptional balance sheet strength. These results reflect both the resilience of our business model and the value of our specialized approach to serving hazardous industries. Our strategy emphasizes risk selection, pricing discipline, and long-term profitability. The workers' compensation marketplace is increasingly competitive, with some carriers prioritizing premium growth over underwriting returns. Our approach remains unchanged. Preserve underwriting integrity We believe these positions of Mirasafe exceptionally well to capitalize on opportunities as market conditions evolve. During the quarter, net premiums earned increased 3% year over year, supported by continued growth in policy count, strong retention of existing accounts. Voluntary premium on policies written in the quarter grew 0.8%, led by continued strong pricing. We renewed 92.3% of the policies for which we offered renewal. However, competition intensified in the quarter in select states, which slowed our new premium growth. Turning to losses, our current accident-year loss ratio remains at 72%. We continue to monitor frequency, severity, and medical trends closely. As we've discussed in previous quarters, medical inflation remains an area of focus for the workers' compensation industry. Throughout the third quarter through the third quarter, both frequency and severity for the current accident year were in line with the prior accident year, with growth in claims reported exceeding premium growth. Our claims team continues to demonstrate their expertise in actively managing claims and finding opportunities to resolve them effectively and efficiently. We experienced $6.9 million of favorable reserve development during the quarter, primarily from accident years 2023 and prior. We attribute that favorable development to our proactive claims handling and the consistent approach our team takes from time a claim is reported through resolution. Our ability and experience in handling severe claims and our reserved strengths continue to be distinguishing characteristics for Amerisafe. We remain confident in our long-term outlook for our business and our ability to create sustainable value for shareholders through disciplined underwriting, prudent capital management, and operational excellence. And with that, I turn the call over to Guillermo.