AMERISAFE(US:AMSF)2025-10-29 20:10Financial Performance - Gross premiums written for Q3 2025 were $80,321,000, a 7.2% increase from $74,940,000 in Q3 2024[3] - Net premiums earned increased by 6.2% to $71,196,000 in Q3 2025, compared to $67,050,000 in Q3 2024[3] - Net income for Q3 2025 was $13,818,000, a 3.5% decrease from $14,324,000 in Q3 2024[3] - Operating net income for Q3 2025 was $10,566,000, down 5.2% from $11,140,000 in Q3 2024[13] - Basic earnings per share (EPS) for Q3 2025 was $0.73, down from $0.75 in Q3 2024, representing a decline of 2.7%[27] - Total revenues for the nine months ended September 30, 2025, were $235,661,000, slightly up from $235,014,000 in the same period of 2024[27] Investment and Assets - Net investment income decreased by 12.3% to $6,566,000 in Q3 2025, down from $7,485,000 in Q3 2024[7] - As of September 30, 2025, the carrying value of AMERISAFE's investment portfolio was $817,000,000[12] - Total assets as of September 30, 2025, were $1,164,944,000, compared to $1,157,791,000 at the end of 2024, indicating a marginal increase[29] - Shareholders' equity increased to $274,773,000 as of September 30, 2025, from $257,341,000 at the end of 2024, reflecting a growth of 6.8%[29] Premiums and Reserves - Voluntary premiums on policies written increased by 10.6% compared to Q3 2024, driven by strong policy retention and new business production[6] - Gross premiums written for Q3 2025 were $80,321,000, an increase of 4.5% from $74,940,000 in Q3 2024[27] - Net premiums earned for the nine months ended September 30, 2025, were $209,462,000, compared to $204,129,000 for the same period in 2024, reflecting a growth of 2.0%[27] - Reserves for loss and loss adjustment expenses decreased to $617,860,000 from $651,309,000, a reduction of 5.1%[29] Dividends and Tax - A special cash dividend of $1.00 per share was declared, along with a regular cash dividend of $0.39 per share, payable on December 12, 2025[8] - The effective tax rate for Q3 2025 was 21.0%, up from 19.5% in Q3 2024[6] Future Outlook - The company anticipates future share repurchases will be funded from available capital, depending on market conditions and regulatory considerations[24] - Management's forward-looking statements indicate expectations of growth opportunities in the workers' compensation insurance market, though actual results may differ due to various risks and uncertainties[23]