AMERISAFE, Inc. (AMSF) is currently considered expensive on a relative basis, with the stock trading at a 22X forward 12-month price-to-earnings (P/E) ratio, which is at a premium compared with its five-year median of 20.21X and the Zacks Insurance - Accident and Health average of 13.36X. A premium valuation generally indicates that the market has strong confidence in the company’s prospects. However, this necessitates scrutiny to determine if this higher price is warranted. Image Source: Zacks Investment R ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common AMSF NASDAQ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-12251 AMERISAFE, INC. (Exact Name of Regis ...

Financial Data and Key Metrics Changes - For Q2 2024, AMERISAFE reported net income of $11 million or $0.57 per diluted share, down from $15.6 million or $0.81 per diluted share in Q2 2023 [9] - Gross written premiums increased to $76.4 million in Q2 2024 from $71.7 million in Q2 2023, reflecting a year-over-year growth of 6.6% [9][10] - The expense ratio improved to 29.8% from 30.4% in the prior year [10] - Book value per share was $15.78, and operating return on average equity was 14.4% [11] Business Line Data and Key Metrics Changes - The accident year loss ratio remained stable at 71%, consistent with the prior year [7] - Audit premiums increased significantly, contributing $7.3 million compared to $4.8 million in Q2 2023 [9] Market Data and Key Metrics Changes - The overall approved loss cost decreased by approximately 8% to 9% for the year, aligning with NCCI predictions [20] - Wage inflation in the industry was around 6%, primarily driven by increased wages rather than new employees [31] Company Strategy and Development Direction - AMERISAFE is focused on profitable growth through enhanced agent engagement and pipeline efficiency, which has led to increased policy count and retention rates [6][14] - The company emphasizes disciplined underwriting to maintain long-term profitability in a competitive marketplace [6][8] Management's Comments on Operating Environment and Future Outlook - Management noted that the workers' compensation market remains profitable despite rate softening, with a competitive environment necessitating disciplined underwriting [6] - There are concerns about medical inflation and its potential impact on costs, although current fee schedules are effectively containing costs [22][40] Other Important Information - The company declared a regular quarterly cash dividend of $0.37 per share [11] - AMERISAFE was recognized in Ward's 50 top-performing property and casualty companies for the 16th consecutive year, highlighting its financial strength and stability [51] Q&A Session Summary Question: Can you expand on the growth in the quarter? - Management indicated that growth is attributed to improved agency relationships and pipeline efficiency, with voluntary debt growth of 2.7% in the quarter [14] Question: What was the ELCM in the quarter? - The ELCM was reported at 148 [15] Question: Any details on approved loss costs? - Approved loss costs are down approximately 8% to 9% for the year, consistent with NCCI predictions [20] Question: How have large claims trended? - There have been four claims over $1 million in the first six months, indicating a stable trend [26] Question: What is driving the increase in the expense ratio? - The increase is due to investments in sales and underwriting, which are expected to level off [34] Question: How is policy count growth distributed? - Policy count growth is not concentrated in specific distribution partners or geographies, but rather due to overall efficiency improvements [36] Question: What is the outlook on severity with changes in Florida's reimbursement schedules? - Management acknowledged the potential impact of Florida's changes but emphasized their claims adjusters' expertise in managing reserves effectively [39] Question: What conditions would lead to a bottoming out of loss costs? - A combined ratio above 100 in the industry would help slow the decline in loss costs [43]

For the quarter ended June 2024, Amerisafe (AMSF) reported revenue of $76.01 million, up 3.4% over the same period last year. EPS came in at $0.58, compared to $0.73 in the year-ago quarter.The reported revenue represents a surprise of +2.44% over the Zacks Consensus Estimate of $74.2 million. With the consensus EPS estimate being $0.61, the EPS surprise was -4.92%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectat ...

Amerisafe (AMSF) came out with quarterly earnings of $0.58 per share, missing the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $0.73 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -4.92%. A quarter ago, it was expected that this insurance provider would post earnings of $0.66 per share when it actually produced earnings of $0.69, delivering a surprise of 4.55%.Over the last four quarters, the comp ...

NEWS RELEASE Exhibit 99.1 Andy Omiridis, EVP & CFO AMERISAFE 337.463.9052 AMERISAFE ANNOUNCES 2024 SECOND QUARTER RESULTS DeRidder, LA – July 29, 2024 - AMERISAFE, Inc. (Nasdaq: AMSF), a specialty provider of workers' compensation insurance focused on high-hazard industries, today announced results for the second quarter ended June 30, 2024. | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------------------------------------------------------|---------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-12251 AMERISAFE, INC. (Exact Name of Registrant as Specified in Its Charter) Texas 75-2069407 (State of Incorporation) (I.R.S. Employer Iden ...

AMERISAFE, Inc.’s (AMSF) shares have declined 10% since it reported first-quarter 2024 results on Apr 24. Despite an earnings beat, investors may have been worried about weakness in underwriting results inducing a deterioration in the net combined ratio. An elevated operating expense level, resulting from an increase in loss and loss adjustment expenses incurred, underwriting and other operating costs and policyholder dividends, also contributed to the downside.AMSF reported first-quarter adjusted earnings ...

AMERISAFE, Inc. (NASDAQ:AMSF) Q1 2024 Earnings Conference Call April 25, 2024 10:30 AM ET Company Participants Kathryn Shirley - Chief Administrative Officer Janelle Frost - President and CEO Andy Omiridis - Executive Vice President and CFO Conference Call Participants Mark Hughes - Truist Matt Carletti - Citizens JMP Operator Good day. And welcome to the AMERISAFE 2024 First Quarter Earnings Conference Call. Today’s conference is being recorded. At this time, I’d like to turn the conference over to Ms. Kat ...

Amerisafe (AMSF) reported $75.94 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 1.1%. EPS of $0.69 for the same period compares to $0.83 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $75.22 million, representing a surprise of +0.95%. The company delivered an EPS surprise of +4.55%, with the consensus EPS estimate being $0.66.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...