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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