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Amerisafe Inc (AMSF) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

Amerisafe Inc

CIK: 1018979 Ticker: AMSF

Exhibit 99.1

 

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Neal A. Fuller, EVP & CFO

AMERISAFE

337.463.9052

AMERISAFE ANNOUNCES 2021 THIRD QUARTER RESULTS

Reports Combined Ratio of 71.5%

Declares an Extraordinary Dividend of $4.00 Per Share

DeRidder, LA – October 27, 2021—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, 2021.

 

     Three Months Ended           Nine Months Ended        
     September 30,           September 30,        
     2021     2020     % Change     2021     2020     % Change  
     (in thousands, except per
share data)
          (in thousands, except per
share data)
       

Net premiums earned

   $ 67,626     $ 74,771       -9.6   $ 208,260     $ 229,725       -9.3

Net investment income

     6,049       7,063       -14.4     19,362       22,136       -12.5

Net realized gains (losses) on investments (pretax)

     (8     309       NM       1,490       1,464       1.8

Net unrealized gains (losses) on equity securities (pre-tax)

     (771     844       NM       8,026       (2,349     NM  

Net income

     19,136       23,353       -18.1     62,215       58,101       7.1

Diluted earnings per share

   $ 0.99     $ 1.21       -18.2   $ 3.21     $ 3.00       7.0

Operating net income

     19,751       22,442       -12.0     54,697       58,800       -7.0

Operating earnings per share

   $ 1.02     $ 1.16       -12.1   $ 2.82     $ 3.04       -7.2

Book value per share

   $ 24.80     $ 24.93       -0.5   $ 24.80     $ 24.93       -0.5

Net combined ratio

     71.5     72.8       76.9     78.4  

Return on average equity

     16.1     19.8       18.1     17.0  

G. Janelle Frost, President and Chief Executive Officer, noted, “We were pleased with this quarter’s results as we were able to maintain strong renewal retention and find new business opportunities in a declining rate environment. In addition, claim severity trends for prior accident years continued to show improvement as our claims handling practices reach favorable outcomes.”


The following information was filed by Amerisafe Inc (AMSF) on Wednesday, October 27, 2021 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
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Changes In Shareholders' Equity (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited)
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 - Schedule Of Assets Measured At Amortized Cost Net Of Allowance For Credit Losses (Detail)
Fair Value Measurements - Schedule Of Assets Measured At Fair Value On Recurring Basis (Detail)
Fair Value Measurements - Summary Of Carrying Amounts And Corresponding Fair Values For Financial Instruments (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Investments
Investments (Tables)
Investments - Additional Information (Detail)
Investments - Changes In Allowance For Credit Losses By Major Security Type Of Investments Classified As Held-To-Maturity (Detail)
Investments - Gross Unrealized Gains And Losses And Cost Of Equity (Detail)
Investments - Gross Unrealized Gains And Losses And Cost Or Amortized Cost, Allowance For Credit Losses And Fair Value Of Investments Classified As Available-For-Sale (Detail)
Investments - Gross Unrecognized Gains And Losses And Cost Or Amortized Cost, Allowance For Credit Losses, Carrying Amount And Fair Value Of Investments Classified As Held-To-Maturity (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 Carrying Amounts 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 - Change In Allowance For Credit Losses On Amounts Recoverable From Reinsurers (Detail)
Loss Reserves - Liability For Unpaid Loss And Loss Adjustment Expenses, Net Of Related Amounts Recoverable From Reinsurers (Detail)
Restricted Stock And Stock Options
Restricted Stock And Stock Options - 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: 0001564590-21-052941
Submitted to the SEC: Fri Oct 29 2021 4:02:18 PM EST
Accepted by the SEC: Fri Oct 29 2021
Period: Thursday, September 30, 2021
Industry: Fire Marine And Casualty Insurance

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