AMSF — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-04-23

• Underwriting and Certain Other Operating Costs, Commissions and Salaries and Benefits. Underwriting and certain other operating costs, commissions and salaries and benefits for the quarter ended March 31, 2026 were $22.3 million, compared to $20.6 million for the same period in 2025, an increase of …

• Net cash used in operating activities was $2.7 million for the three months ended March 31, 2026, which represented a $0.9 million increase from $1.8 million in net cash used in operating activities for the three months ended March 31, 2025. This decrease in operating cash flow was due to a $2.2 mil…

• We classify the majority of our fixed maturity securities as “held-to-maturity.” We do not reflect any changes in non-credit related unrecognized gains and losses until realized. Upon the adoption of ASU 2016-13, Financial Instruments – Credit Losses (Topic 326), management is required to estimate e…

• The number of open claims at March 31, 2026 increased by 301 claims as compared to the number of open claims at March 31, 2025. The increase in the number of claims reported is directly correlated to the increase of our in-force policy count.

• At March 31, 2026, our incurred amounts for certain accident years, primarily 2012, 2020 and 2023, developed more favorably than management previously expected. The revisions to the Company’s reserves reflect new information gained by claims adjusters in the normal course of adjusting claims and is …

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• Underwriting and Certain Other Operating Costs, Commissions and Salaries and Benefits. Underwriting and certain other operating costs, commissions and salaries and benefits for the quarter ended September 30, 2025 were $22.1 million, compared to $21.3 million for the same period in 2024, an increase…

• Consolidated Results of Operations for Nine Months Ended September 30, 2025 Compared to September 30, 2024

• Gross Premiums Written. Gross premiums written for the nine months ended September 30, 2025 were $243.8 million, compared to $231.4 million for the same period in 2024, an increase of 5.3%. The increase was attributable to a $20.9 million increase in voluntary premiums on policies written during the…

• Net Premiums Written. Net premiums written for the nine months ended September 30, 2025 were $231.1 million, compared to $219.5 million for the same period in 2024, an increase of 5.3%. The increase was primarily attributable to an increase in gross premiums written. As a percentage of gross premium…

• Net Premiums Earned. Net premiums earned for the nine months ended September 30, 2025 were $209.5 million, compared to $204.1 million for the same period in 2024, an increase of 2.6%. The increase was primarily attributable to the increase in net premiums written during the period.

Text added vs the prior filing · source: 10-Q · 2026-04-23

• obligation to update or revise any forward-looking statements, which speak only as of the date made, notwithstanding any changes in its assumptions, actual experience or other changes that arise after the date of this report.

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• changes in current accounting standards or new accounting standards;

Text added vs the prior filing · source: 10-Q · 2026-04-23

• obligation to update or revise any forward-looking statements, which speak only as of the date made, notwithstanding any changes in its assumptions, actual experience or other changes that arise after the date of this report.

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• changes in current accounting standards or new accounting standards;

Text added vs the prior filing · source: 10-Q · 2026-04-23

• This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and 21E of the Securities Exchange Act of 1934. Forward-looking statements are all statements other than statements of historical facts. You should not place undue reliance on these statem…

• Forward-looking statements address matters that involve risks and uncertainties. Forward-looking statements are not guarantees of future performance. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those expressed or implied in these …

• 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);

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• During the Company's fiscal quarter ended September 30, 2025, none of the Company's directors or officers adopted, modified or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement.

• Effective October 28, 2025, the Board amended and restated the Company’s Amended and Restated Bylaws (as amended, the “Bylaws”) primarily to modify certain provisions to align the Bylaws more closely with the current Texas Business Organizations Code (TBOC) and prevailing practices, including, among…

• clarify (i) the quorum requirements for the transaction of business at shareholder meetings; (ii) the default voting standard for matters subject to shareholder votes; and (iii) the treatment of abstentions and broker non-votes (Article II, Sections 2.7 and 2.8);

• modify the provisions of the Bylaws relating to the accessing the shareholder list to align more closely with the TBOC (Article II, Section 2.6);

• clarify the authority and duties of the inspector of elections and presiding officer at any shareholder meeting (Article II, Sections 2.10, 2.11 and 2.12(f)); and