\nAMERISAFE, Inc. (Nasdaq: AMSF<\/b>), a specialty provider of workers\u2019 compensation insurance focused on high hazard industries, today announced results for the first quarter ended March 31, 2023.<\/p>\n
| \n | \n Three Months Ended<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| \n | \n March 31,<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| \n | \n 2023<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n % Change<\/b><\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n69,181<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n67,556<\/p>\n<\/td>\n \n2.4%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n7,433<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,113<\/p>\n<\/td>\n \n21.6%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n258<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n738<\/p>\n<\/td>\n \n-65.0%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,369<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,040<\/p>\n<\/td>\n \nNM<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n17,339<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n17,331<\/p>\n<\/td>\n \n0.0%<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n0.90<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.89<\/p>\n<\/td>\n \n1.1%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n16,054<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15,926<\/p>\n<\/td>\n \n0.8%<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n0.83<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.82<\/p>\n<\/td>\n \n1.2%<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n17.38<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n20.46<\/p>\n<\/td>\n \n-15.1%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n82.2%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n80.1%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21.3%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n17.4%<\/p>\n<\/td>\n \nG. Janelle Frost, President and Chief Executive Officer commented, \u201cAMERISAFE\u2019s first quarter results reflect the company\u2019s disciplined approach to risk selection and adequate pricing within the high-hazard workers\u2019 compensation market. Continued competition and rate decreases were more than offset by positive audit premiums resulting in top-line growth of 6.0%, combined ratio of 82.2% and annualized ROE of 21.3%. With the support of a strong balance sheet, AMERISAFE is well-positioned for solid performance in the current market, and we remain confident in our ability to create long-term value for shareholders.\u201d<\/p>\n INSURANCE RESULTS<\/b><\/p>\n Three Months Ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n March 31,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n82,487<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n77,791<\/p>\n<\/td>\n \n6.0%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n69,181<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n67,556<\/p>\n<\/td>\n \n2.4%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n39,009<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n37,741<\/p>\n<\/td>\n \n3.4%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n16,982<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15,113<\/p>\n<\/td>\n \n12.4%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n931<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,189<\/p>\n<\/td>\n \n-21.7%<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n12,259<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n13,513<\/p>\n<\/td>\n \n-9.3%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n71.0%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n71.0%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n-14.6%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n-15.1%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n56.4%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n55.9%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24.5%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22.4%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.3%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.8%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n82.2%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n80.1%<\/p>\n<\/td>\n INVESTMENT RESULTS<\/b><\/p>\n Three Months Ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n March 31,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n7,433<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n6,113<\/p>\n<\/td>\n \n21.6%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n258<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n738<\/p>\n<\/td>\n \n-65.0%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,369<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,040<\/p>\n<\/td>\n \nNM<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n3.1%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.3%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3.5%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.7%<\/p>\n<\/td>\n \n(1) The tax equivalent yield is calculated using the effective interest rate and the appropriate marginal tax rate.<\/p>\n CAPITAL MANAGEMENT<\/b><\/p>\n \nDuring the first quarter of 2023, the Company paid a regular quarterly cash dividend of $0.34 per share on March 24, 2023 which represented a 9.7% increase in the quarterly dividend compared with 2022. On April 25, 2023 the Company\u2019s Board of Directors declared a quarterly cash dividend of $0.34 per share, payable on June 23, 2023 to shareholders of record as of June 16, 2023.<\/p>\n \nBook value per share at March 31, 2023 was $17.38, an increase of 4.9% from $16.57 at December 31, 2022.<\/p>\n SUPPLEMENTAL INFORMATION<\/b><\/p>\n Three Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n17,339<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n17,331<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n258<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n738<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,369<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,040<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(342<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(373<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n16,054<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n15,926<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n325,144<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n397,298<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(11,656<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,797<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n336,800<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n390,501<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n19,235,411<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19,430,824<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n21.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n17.4<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n19.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n0.90<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.89<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n0.83<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.82<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n(1)<\/p>\n<\/td>\n \nThe tax effect of net realized losses on investments and net unrealized gains (losses) on equity securities is calculated with an effective tax rate of 21%.<\/p>\n<\/td>\n<\/tr>\n \n(2)<\/p>\n<\/td>\n \nOperating net income, operating return on average adjusted equity and operating earnings per share are non-GAAP financial measures. Management believes that investors\u2019 understanding of core operating performance is enhanced by AMERISAFE\u2019s disclosure of these financial measures.<\/p>\n<\/td>\n<\/tr>\n \n(3)<\/p>\n<\/td>\n \nAverage shareholders\u2019 equity is calculated by taking the average of the beginning and ending shareholders\u2019 equity.<\/p>\n<\/td>\n<\/tr>\n \n(4)<\/p>\n<\/td>\n \nReturn on average equity is calculated by dividing the annualized net income by the average shareholders\u2019 equity.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n CONFERENCE CALL INFORMATION<\/b><\/p>\n \nAMERISAFE has scheduled a conference call for April 27, 2023, at 10:30 AM Eastern Time to discuss the results for the quarter and comment on future periods. To participate in the conference call, dial 323-794-2423 (Conference Code 595703) at least ten minutes before the call begins.<\/p>\n \nInvestors, analysts and the general public will also have the opportunity to listen to the conference call over the Internet by visiting the \u201cInvestor Relations Home\u201d page of the \u201cInvestors\u201d section of the Company\u2019s website (http:\/\/www.amerisafe.com). To listen to the live call on the web, please visit the website at least fifteen minutes before the call begins to register, download and install any necessary audio software. For those who cannot listen to the live webcast, an archive will be available shortly after the call at the same website location.<\/p>\n ABOUT AMERISAFE<\/b><\/p>\n \nAMERISAFE, Inc. is a specialty provider of workers\u2019 compensation insurance focused on small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, agriculture, and manufacturing. AMERISAFE actively markets workers\u2019 compensation insurance in 27 states.<\/p>\n FORWARD LOOKING STATEMENTS<\/b><\/p>\n \nStatements made in this press release that are not historical facts, including statements accompanied by words such as \u201cwill,\u201d \u201cbelieve,\u201d \u201canticipate,\u201d \u201cexpect,\u201d \u201cestimate,\u201d or similar words are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding AMERISAFE\u2019s plans and performance. These statements are based on management\u2019s estimates, assumptions and projections as of the date of this release and are not guarantees of future performance and include statements regarding management\u2019s views and expectations of the workers\u2019 compensation market, the Company\u2019s growth opportunities, underwriting margins and actions by competitors. Actual results may differ materially from the results expressed or implied in these statements if the underlying assumptions prove to be incorrect or as the results of risks, uncertainties and other factors on the business and operations of the Company and our policyholders and the market value of our investment portfolio. Additional factors that may affect our results are set forth in the Company\u2019s filings with the Securities and Exchange Commission, including AMERISAFE\u2019s Annual Report on Form 10-K. AMERISAFE cautions you not to place undue reliance on the forward-looking statements contained in this release. AMERISAFE does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.<\/p>\n \n– Tables to Follow –<\/p>\n AMERISAFE, INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n Consolidated Statements of Income<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/b><\/p>\n<\/td>\n<\/tr>\n Three Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n82,487<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n77,791<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(4,179<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,559<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n78,308<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n75,232<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n69,181<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n67,556<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n7,433<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,113<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n258<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n738<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,369<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,040<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n197<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n113<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n78,438<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n75,560<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n39,009<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n37,741<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n16,982<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15,113<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n931<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,189<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(19<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n95<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n56,903<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n54,138<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n21,535<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21,422<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n4,196<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,091<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n17,339<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n17,331<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n AMERISAFE, INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n Consolidated Statements of Income (cont.)<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands, except per share amounts)<\/b><\/p>\n<\/td>\n<\/tr>\n Three Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n17,339<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n17,331<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n19,131,356<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19,332,006<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n0.91<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.90<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n17,339<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n17,331<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n19,131,356<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19,332,006<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n104,055<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n98,818<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n19,235,411<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19,430,824<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n0.90<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.89<\/p>\n<\/td>\n<\/tr>\n<\/table>\n AMERISAFE, INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n Consolidated Balance Sheets<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/b><\/p>\n<\/td>\n<\/tr>\n March 31,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n (unaudited)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n919,856<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n888,987<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n41,210<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n61,469<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n118,142<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n125,677<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n137,051<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n121,713<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n21,658<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,794<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n18,629<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n17,401<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n31,708<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,238<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n1,288,254<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,269,279<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n686,652<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n696,037<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n124,103<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n114,976<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n17,594<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n17,653<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n127,050<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n123,181<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n332,855<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n317,432<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n1,288,254<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,269,279<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230426005113\/en\/<\/a><\/span><\/p>\n Andy Omiridis, EVP & CFO KEYWORDS:<\/b> Louisiana United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Insurance Professional Services<\/p>\n |
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<\/td>\n<\/tr>\n