{"id":732752,"date":"2023-02-20T16:08:09","date_gmt":"2023-02-20T21:08:09","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/amerisafe-announces-2022-fourth-quarter-and-year-end-results\/"},"modified":"2023-02-20T16:08:09","modified_gmt":"2023-02-20T21:08:09","slug":"amerisafe-announces-2022-fourth-quarter-and-year-end-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/amerisafe-announces-2022-fourth-quarter-and-year-end-results\/","title":{"rendered":"AMERISAFE Announces 2022 Fourth Quarter and Year-End Results"},"content":{"rendered":"

<\/p>\n

AMERISAFE Announces 2022 Fourth Quarter and Year-End Results<\/b><\/p>\n

Reports $55.6 Million of Net Income, Return on Equity of 15.5% and <\/i>Net Combined Ratio of 83.6% in 2022<\/i><\/b><\/p>\n

DERIDDER, La.–(BUSINESS WIRE<\/a>)–
\nAMERISAFE, Inc. (Nasdaq: AMSF<\/b>), a specialty provider of workers\u2019 compensation insurance focused on high hazard industries, today announced results for the fourth quarter and year ended December 31, 2022.\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nThree Months Ended<\/b><\/td>\n\n\n\nTwelve Months Ended<\/b><\/td>\n\n<\/tr>\n
\n\nDecember 31,<\/b><\/td>\n\n\n\nDecember 31,<\/b><\/td>\n\n<\/tr>\n
\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2022<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2021<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n% Change<\/b><\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2022<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2021<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n% Change<\/b><\/td>\n<\/tr>\n
\n\n(in thousands, except per share data)<\/b><\/td>\n\n\n\n(in thousands, except per share data)<\/b><\/td>\n\n<\/tr>\n
Net premiums earned<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n66,073\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n67,733\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n-2.5\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n271,698\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n275,993\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n-1.6\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Net investment income<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n7,642\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n6,073\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n25.8\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n27,223\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n25,435\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n7.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Net realized gains on investments (pre-tax)<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,038\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n205\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n406.3\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n3,440\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,695\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n102.9\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Net unrealized gains (losses) on<\/td>\n\n\n\n\n\n\n\n\n\n\n\n<\/tr>\n
equity securities (pre-tax)<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,892\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,289\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\nNM\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(8,092\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n12,315\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\nNM\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Net income<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n20,778\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n3,541\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n486.8\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n55,602\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n65,756\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n-15.4\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Diluted earnings per share<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n1.08\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.18\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n500.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n2.88\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n3.39\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n-15.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Operating net income (loss)<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n16,093\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(9\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\nNM\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n59,277\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n54,688\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n8.4\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Operating earnings per share<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.84\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n–\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\nNM\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n3.07\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n2.82\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n8.9\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Book value per share<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n16.57\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n20.62\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n-19.6\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n16.57\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n20.62\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n-19.6\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Net combined ratio<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n82.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n112.9\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n83.6\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n85.7\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n<\/tr>\n
Return on average equity<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n24.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n3.2\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n15.5\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n15.7\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n<\/tr>\n<\/table>\n

\nG. Janelle Frost, President and Chief Executive Officer commented, \u201cAMERISAFE\u2019s financial results this quarter are reflective of our focus on underwriting margins and sustainability in providing long-term returns to our shareholders. Despite industrywide pressure as competition increases and rates decrease, our focus on risk selection, appropriate product pricing and claims handling resulted in combined ratios of 82.0% this quarter and 83.6% for the year. Based on these results and our capital strength, AMERISAFE has demonstrated it is well-positioned for solid performance in the current market and to create long-term shareholder value into the future.\u201d\n<\/p>\n

INSURANCE RESULTS<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nThree Months Ended<\/b><\/td>\n\n\n\nTwelve Months Ended<\/b><\/td>\n\n<\/tr>\n
\n\nDecember 31,<\/b><\/td>\n\n\n\nDecember 31,<\/b><\/td>\n\n<\/tr>\n
\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2022<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2021<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n% Change<\/b><\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2022<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2021<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n% Change<\/b><\/td>\n<\/tr>\n
\n\n(in thousands)<\/b><\/td>\n\n\n\n(in thousands)<\/b><\/td>\n\n<\/tr>\n
\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Gross premiums written<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n55,647\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n55,871\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n-0.4\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n276,110\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n278,294\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n-0.8\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Net premiums earned<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n66,073\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n67,733\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n-2.5\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n271,698\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n275,993\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n-1.6\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Loss and loss adjustment expenses incurred<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n36,524\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n59,197\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n-38.3\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n152,316\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n160,798\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n-5.3\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Underwriting and certain other operating costs,<\/td>\n\n\n\n\n\n\n\n\n\n\n\n<\/tr>\n
commissions, salaries and benefits<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n17,421\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n16,714\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n4.2\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n72,032\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n72,051\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n0.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Policyholder dividends<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n182\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n515\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n-64.7\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2,699\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n3,715\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n-27.3\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Underwriting profit (pre-tax)<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n11,946\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n(8,693\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\nNM\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n44,651\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n39,429\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n13.2\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Insurance Ratios:<\/b><\/td>\n\n\n\n\n\n\n\n\n\n\n\n<\/tr>\n
Current accident year loss ratio<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n71.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n107.4\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n71.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n80.7\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n<\/tr>\n
Prior accident year loss ratio<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n-15.7\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n-20.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n-14.9\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n-22.4\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n<\/tr>\n
Net loss ratio<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n55.3\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n87.4\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n56.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n58.3\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n<\/tr>\n
Net underwriting expense ratio<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n26.4\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n24.7\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n26.5\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n26.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n<\/tr>\n
Net dividend ratio<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.3\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.8\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1.3\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n<\/tr>\n
Net combined ratio<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n82.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n112.9\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n83.6\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n85.7\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n<\/tr>\n<\/table>\n