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Amerisafe Inc (AMSF) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Amerisafe Inc

CIK: 1018979 Ticker: AMSF

Exhibit 99.1

 

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Neal A. Fuller, EVP & CFO

AMERISAFE

337.463.9052

AMERISAFE ANNOUNCES 2018 THIRD QUARTER RESULTS

Declares An Extraordinary Dividend of $3.50 Per Share

Reports Combined Ratio of 81.1%

DeRidder, LA – October 24, 2018 - AMERISAFE, Inc. (

Nasdaq: AMSF), a specialty provider of workers’ compensation insurance focused on high hazard industries, today announced results for the third quarter ended September 30, 2018.

 

     Three Months Ended
September 30,
          Nine Months Ended
September 30,
       
     2018     2017     % Change     2018     2017     % Change  
     (in thousands, except
per share data)
          (in thousands, except
per share data)
       

Net premiums earned

   $ 85,184     $ 85,118       0.1   $ 261,489     $ 258,779       1.0

Net investment income

     7,884       7,788       1.2     22,396       21,969       1.9

Net realized losses on investments, pre-tax

     (329     (192     71.4     (1,471     (761     93.3

Net income

     19,701       16,577       18.8     52,826       45,582       15.9

Diluted earnings per share

   $ 1.02     $ 0.86       18.6   $ 2.74     $ 2.37       15.6

Operating net income

     19,508       16,702       16.8     53,783       46,077       16.7

Operating earnings per share

   $ 1.01     $ 0.87       16.1   $ 2.79     $ 2.40       16.3

Book value per share

   $ 23.82     $ 25.72       -7.4   $ 23.82     $ 25.72       -7.4

Net combined ratio

     81.1     81.4       83.5     83.5  

Return on average equity

     17.4     13.6       15.9     12.8  

G. Janelle Frost, President and Chief Executive Officer, noted, “Industry wide loss costs continued to decline this quarter, making workers’ compensation the only commercial line with rate decreases passed on to policyholders. Such an environment sets the stage for carriers to compete for premium dollars. AMERISAFE’s history and current year results reflect our discipline to evaluate and price our risk for long-term stability and profitability. It is because of that discipline that our board is pleased to declare a special dividend of $3.50 to our shareholders, while maintaining adequate capital to protect our policyholders and efficiently operate our company.”


The following information was filed by Amerisafe Inc (AMSF) on Wednesday, October 24, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Amerisafe Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statement Of Changes In Shareholders' Equity (Unaudited)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Income (Unaudited)
Basis Of Presentation
Basis Of Presentation (Policies)
Basis Of Presentation - Additional Information (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 - 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)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Calculation Of Basic And Diluted Earnings Per Share (Detail)
Fair Value Measurements
Fair Value Measurements (Policies)
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Detail)
Fair Value Measurements - Schedule Of Assets Measured At Amortized Cost (Detail)
Fair Value Measurements - Schedule Of Assets Measured At Fair Value On Recurring Basis (Detail)
Fair Value Measurements - Summary Of Carrying Values And Corresponding Fair Values For Financial Instruments (Detail)
Fair Value Measurements - Summary Of Information Regarding Changes In Fair Value Of Assets Measured At Fair Value (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Investments
Investments (Tables)
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 - 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)
Loss Reserves
Loss Reserves (Tables)
Loss Reserves - Additional Information (Detail)
Loss Reserves - Liability For Unpaid Loss And Loss Adjustment Expenses, Net Of Related Amounts Recoverable From Reinsurers (Detail)
Stock Options And Restricted Stock
Stock Options And Restricted Stock - Additional Information (Detail)
Subsequent Events
Subsequent Events - Additional Information (Detail)
Treasury Stock
Treasury Stock - Additional Information (Detail)

Material Contracts, Statements, Certifications & more

Amerisafe Inc provided additional information to their SEC Filing as exhibits

Ticker: AMSF
CIK: 1018979
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-18-025258
Submitted to the SEC: Fri Oct 26 2018 12:01:53 PM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: Fire Marine And Casualty Insurance

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