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Amerisafe Inc (AMSF) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Amerisafe Inc

CIK: 1018979 Ticker: AMSF

Exhibit 99.1

 

LOGO     

                    NEWS RELEASE

 

Contact:         Neal A Fuller, EVP & CFO

    AMERISAFE, Inc.

    337-463-9052

    
    

AMERISAFE ANNOUNCES 2015 FOURTH QUARTER AND YEAR-END

RESULTS

2015 Net Income Grows 31.3%

Increases Regular Dividend 20.0%

DeRidder, LA – Feb. 24, 2016 - AMERISAFE, Inc. (Nasdaq: AMSF), a specialty provider of hazardous workers’ compensation insurance, today announced results for the fourth quarter and year ended December 31, 2015.

 

     Three Months Ended           Twelve Months Ended        
     December 31,           December 31,        
     2015     2014     % Change     2015     2014     % Change  
     (in thousands, except per share data)  

Net premiums earned

   $ 95,034      $ 97,070        -2.1   $ 375,894      $ 375,747        0.0

Net investment income

     7,256        7,166        1.3     27,902        27,214        2.5

Net realized gains (losses) on investments (pre-tax)

     24        516        NM        (2,494     697        NM   

Net income

     23,073        16,865        36.8     70,462        53,666        31.3

Diluted earnings per share

   $ 1.21      $ 0.89        36.0   $ 3.69      $ 2.84        29.9

Operating net income

     23,057        16,530        39.5     72,083        53,213        35.5

Operating earnings per share

   $ 1.20      $ 0.87        37.9   $ 3.77      $ 2.81        34.2

Book value per share

   $ 23.73      $ 23.65        0.3   $ 23.73      $ 23.65        0.3

Net combined ratio

     71.5     83.4       79.8     87.9  

Return on average equity

     19.5     15.1       15.6     12.4  

Allen Bradley, AMERISAFE’s Executive Chairman, commented, “Early projections of the 2015 underwriting results for workers’ compensation market suggest a 96% combined ratio. If accurate, that marks the second consecutive year of an underwriting profit, a rare occurrence in this line of business. Markedly lower investment yields have played the major role in bringing about the underwriting discipline necessary to produce these results. More recently, a slowing national economy coupled with excess capital in the industry has moved the market to a slightly more competitive posture. It remains to be seen if low investment yields compel underwriters to maintain a disciplined approach to pricing and risk selection.”


The following information was filed by Amerisafe Inc (AMSF) on Wednesday, February 24, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Capital Management
Capital Management - Additional Information (detail)
Capital Stock
Capital Stock - Additional Information (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Commitments And Contingencies - Fair Value Of Annuities (detail)
Commitments And Contingencies - Future Minimum Lease Payments (detail)
Comprehensive Income And Accumulated Other Comprehensive Income
Comprehensive Income And Accumulated Other Comprehensive Income (tables)
Comprehensive Income And Accumulated Other Comprehensive Income - Additional Information (detail)
Comprehensive Income And Accumulated Other Comprehensive Income - Other Comprehensive Income (detail)
Comprehensive Income And Accumulated Other Comprehensive Income - Reclassification Out Of Accumulated Other Comprehensive Income (detail)
Comprehensive Income And Accumulated Other Comprehensive Income - Schedule Of Changes In Accumulated Other Comprehensive Income (aoci) (detail)
Concentration Of Operations
Concentration Of Operations (tables)
Concentration Of Operations - Net Premiums Earned For The Different Lines Of Business (detail)
Concentration Of Operations - Net Premiums Earned For The Top Ten States (detail)
Deferred Policy Acquisition Costs
Deferred Policy Acquisition Costs (tables)
Deferred Policy Acquisition Costs - Schedule Of Activity In The Deferred Policy Acquisition Costs (detail)
Deferred Policy Acquisition Costs - Schedule Of Major Categories Of The Deferred Policy Acquisition Costs (detail)
Earnings Per Share
Earnings Per Share (tables)
Earnings Per Share - Calculation Of Basic And Diluted Earnings Per Share (detail)
Earnings Per Share - Calculation Of Percentage Of Net Income Allocable To Common Shareholders (detail)
Employee Benefit Plan
Employee Benefit Plan - Additional Information (detail)
Fair Values Of Financial Instruments
Fair Values Of Financial Instruments (tables)
Fair Values Of Financial Instruments - Additional Information (detail)
Fair Values Of Financial Instruments - Schedule Of Assets And Liabilities Measured At Amortized Cost (detail)
Fair Values Of Financial Instruments - Schedule Of Assets And Liabilities Measured At Fair Value On Recurring Basis (detail)
Fair Values Of Financial Instruments - Summary Of Carrying Values And Corresponding Fair Values For Financial Instruments (detail)
Fair Values Of Financial Instruments - Summary Of Changes In Fair Value Of Assets Measured At Fair Value (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Income Taxes - Components Of Consolidated Income Tax Expense (benefit) (detail)
Income Taxes - Income Tax Expense From Operations From The Amount Computed By Applying The U.s. Federal Income Tax Statutory Rate Of 35% To Income Before Income Taxes (detail)
Income Taxes - Schedule Of Company's Deferred Income Tax Assets And Liabilities (detail)
Investments
Investments (tables)
Investments - A Summary Of The Company's Realized Gains And Losses On Sales, Calls Or Redemptions Of Investments (detail)
Investments - Additional Information (detail)
Investments - Gross Unrealized Gains And Losses And Amortized Cost And Fair Value Of Investments Classified As Held-to-maturity (detail)
Investments - Gross Unrealized Gains And Losses And Cost Or Amortized Cost And Fair Value Of Investments Classified As Available-for-sale (detail)
Investments - Investment Securities Continuous Unrealized Loss Position (detail)
Investments - Major Categories Of The Company's Net Investment Income (detail)
Investments - Summary Of Amortized Cost And Fair Value Of Investments In Fixed Maturity Securities, Classified As Available-for-sale (detail)
Investments - Summary Of Amortized Cost And Fair Value Of Investments In Fixed Maturity Securities, Classified As Held-to-maturity (detail)
Line Of Credit
Line Of Credit - Additional Information (detail)
Loss And Loss Adjustment Expenses
Loss And Loss Adjustment Expenses (tables)
Loss And Loss Adjustment Expenses - Additional Information (detail)
Loss And Loss Adjustment Expenses - Reconciliation Of Beginning And Ending Reserve Balances, Net Of Related Amounts Recoverable From Reinsurers (detail)
Loss And Loss Adjustment Expenses - Summary Exposures To Various Asbestos Related Claims (detail)
Premiums Receivable
Premiums Receivable (tables)
Premiums Receivable - Additional Information (detail)
Premiums Receivable - Components Of Premiums Receivable (detail)
Premiums Receivable - Summarizes The Activity In The Allowance For Doubtful Accounts (detail)
Premiums Receivable - Summarizes The Activity In The Allowance For Doubtful Accounts (parenthetical) (detail)
Property And Equipment
Property And Equipment (tables)
Property And Equipment - Additional Information (detail)
Property And Equipment - Schedule Of Future Minimum Lease Payments For Capital Lease Obligations (detail)
Property And Equipment - Schedule Of Property And Equipment (detail)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (tables)
Quarterly Financial Data (unaudited) - Unaudited Quarterly Financial Data (detail)
Reinsurance
Reinsurance (tables)
Reinsurance - Additional Information (detail)
Reinsurance - Schedule Of The Amounts Recoverable From Reinsurers (detail)
Reinsurance - Schedule Of The Effect Of Reinsurance On Premiums Written And Earned (detail)
Reinsurance - Schedule Of Unsecured Reinsurance Recoverables From Reinsurers (detail)
Schedule Ii. Condensed Financial Information Of Registrant
Schedule Ii. Condensed Financial Information Of Registrant - Condensed Balance Sheets (detail)
Schedule Ii. Condensed Financial Information Of Registrant - Condensed Balance Sheets (parenthetical) (detail)
Schedule Ii. Condensed Financial Information Of Registrant - Condensed Statements Of Cash Flows (detail)
Schedule Ii. Condensed Financial Information Of Registrant - Condensed Statements Of Income (detail)
Schedule Vi. Supplemental Information Concerning Property-casualty Insurance Operations
Schedule Vi. Supplemental Information Concerning Property-casualty Insurance Operations (detail)
Statutory Accounting And Regulatory Requirements
Statutory Accounting And Regulatory Requirements (tables)
Statutory Accounting And Regulatory Requirements - Additional Information (detail)
Statutory Accounting And Regulatory Requirements - Insurance Subsidiaries (detail)
Stock Options And Restricted Stock
Stock Options And Restricted Stock (tables)
Stock Options And Restricted Stock - Additional Information (detail)
Stock Options And Restricted Stock - Restricted Stock Outstanding (detail)
Stock Options And Restricted Stock - Stock Options Outstanding (detail)
Stock Options And Restricted Stock - Weighted Average Grant Date Fair Values Of Options Granted (detail)
Subsequent Events
Subsequent Events - Additional Information (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies - Additional Information (detail)
Ticker: AMSF
CIK: 1018979
Form Type: 10-K Annual Report
Accession Number: 0001193125-16-481952
Submitted to the SEC: Fri Feb 26 2016 4:25:35 PM EST
Accepted by the SEC: Fri Feb 26 2016
Period: Thursday, December 31, 2015
Industry: Fire Marine And Casualty Insurance

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