– моментальные уведомления о рынке акций
– моментальные уведомления о рынке акций
Reports Net Combined Ratio of 80.1%
DERIDDER, La.--(BUSINESS WIRE)--AMERISAFE, Inc. (Nasdaq: AMSF), a specialty provider of workers’ compensation insurance focused on high hazard industries, today announced results for the first quarter ended March 31, 2022.
Three Months Ended |
|
|
|||||
March 31, |
|
|
|||||
2022 |
|
2021 |
|
% Change |
|||
(in thousands, except per share data) |
|
|
|||||
| Net premiums earned | $ |
67,556 |
$ |
70,746 |
-4.5% |
||
| Net investment income |
|
6,113 |
|
6,583 |
-7.1% |
||
| Net realized gains on investments (pretax) |
|
738 |
|
319 |
NM |
||
| Net unrealized gains on equity securities (pretax) |
|
1,040 |
|
5,511 |
NM |
||
| Net income |
|
17,331 |
|
19,312 |
-10.3% |
||
| Diluted earnings per share | $ |
0.89 |
$ |
0.99 |
-10.1% |
||
| Operating net income |
|
15,926 |
|
14,706 |
8.3% |
||
| Operating earnings per share | $ |
0.82 |
$ |
0.76 |
7.9% |
||
| Book value per share | $ |
20.46 |
$ |
23.16 |
-11.7% |
||
| Net combined ratio |
|
80.1% |
|
84.6% |
|||
| Return on average equity |
|
17.4% |
|
17.4% |
|||
G. Janelle Frost, President and Chief Executive Officer, noted, “Providing protection for small to mid-sized businesses and care for their injured workers, while returning value to our shareholders is fundamental to our strategy. This quarter our capital management approach included our regular quarterly dividend and share repurchases. I believe the share repurchases, along with our strong operating results, reinforces the confidence we have in our long-term plans and underlying earnings power of our niche business.”
INSURANCE RESULTS |
||||||||||
Three Months Ended |
|
|
||||||||
March 31, |
|
|
||||||||
2022 |
|
2021 |
|
% Change |
||||||
| (in thousands) | ||||||||||
| Gross premiums written | $ |
77,791 |
|
$ |
81,514 |
|
-4.6 |
% |
||
| Net premiums earned |
|
67,556 |
|
|
70,746 |
|
-4.5 |
% |
||
| Loss and loss adjustment expenses incurred |
|
37,741 |
|
|
39,517 |
|
-4.5 |
% |
||
| Underwriting and certain other operating costs, | ||||||||||
| commissions, salaries and benefits |
|
15,113 |
|
|
18,967 |
|
-20.3 |
% |
||
| Policyholder dividends |
|
1,189 |
|
|
1,350 |
|
-11.9 |
% |
||
| Underwriting profit (pre-tax) | $ |
13,513 |
|
$ |
10,912 |
|
23.8 |
% |
||
| Insurance Ratios: | ||||||||||
| Current accident year loss ratio |
|
71.0 |
% |
|
72.0 |
% |
||||
| Prior accident year loss ratio |
|
-15.1 |
% |
|
-16.1 |
% |
||||
| Net loss ratio |
|
55.9 |
% |
|
55.9 |
% |
||||
| Net underwriting expense ratio |
|
22.4 |
% |
|
26.8 |
% |
||||
| Net dividend ratio |
|
1.8 |
% |
|
1.9 |
% |
||||
| Net combined ratio |
|
80.1 |
% |
|
84.6 |
% |
||||
| INVESTMENT RESULTS | ||||||||||
Three Months Ended |
|
|
||||||||
March 31, |
|
|
||||||||
2022 |
|
2021 |
|
% Change |
||||||
| (in thousands) | ||||||||||
| Net investment income | $ |
6,113 |
|
$ |
6,583 |
|
-7.1 |
% |
||
| Net realized gains on | ||||||||||
| investments (pre-tax) |
|
738 |
|
|
319 |
|
NM |
|
||
| Net unrealized gains on | ||||||||||
| equity securities (pre-tax) |
|
1,040 |
|
|
5,511 |
|
NM |
|
||
| Pre-tax investment yield |
|
2.3 |
% |
|
2.3 |
% |
||||
| Tax-equivalent yield (1) |
|
2.7 |
% |
|
2.8 |
% |
||||
| ________________________________ | ||||||||||
(1) The tax equivalent yield is calculated using the effective interest rate and the appropriate marginal tax rate.
CAPITAL MANAGEMENT
During the first quarter of 2022, the Company repurchased 43,893 shares at an average cost of $46.90 per share for a total of $2.1 million. The remaining outstanding share repurchase authorization is $22.9 million. No additional shares were repurchased from March 31, 2022 through April 25, 2022.
During the first quarter of 2022, the Company paid a regular quarterly cash dividend of $0.31 per share on March 25, 2022 which represented a 6.9% increase in the quarterly dividend compared with 2021. On April 26, 2022 the Company’s Board of Directors declared a quarterly cash dividend of $0.31 per share, payable on June 24, 2022 to shareholders of record as of June 17, 2022.
Book value per share at March 31, 2022 was $20.46, a decrease of 0.8% from $20.62 at December 31, 2021.
SUPPLEMENTAL INFORMATION |
|||||||
Three Months Ended |
|||||||
March 31, |
|||||||
2022 |
|
2021 |
|||||
| Net income | $ |
17,331 |
|
$ |
19,312 |
|
|
| Less: | |||||||
| Net realized gains on investments |
|
738 |
|
|
319 |
|
|
| Net unrealized gains on equity securities |
|
1,040 |
|
|
5,511 |
|
|
| Tax effect (1) |
|
(373 |
) |
|
(1,224 |
) |
|
| Operating net income (2) | $ |
15,926 |
|
$ |
14,706 |
|
|
| Average shareholders’ equity (3) | $ |
397,298 |
|
$ |
443,221 |
|
|
| Less: | |||||||
| Average accumulated other comprehensive income |
|
6,797 |
|
|
18,495 |
|
|
| Average adjusted shareholders’ equity (2) | $ |
390,501 |
|
$ |
424,726 |
|
|
| Diluted weighted average common shares |
|
19,430,824 |
|
|
19,408,804 |
|
|
| Return on average equity (4) |
|
17.4 |
% |
|
17.4 |
% |
|
| Operating return on average adjusted equity (2) |
|
16.3 |
% |
|
13.9 |
% |
|
| Diluted earnings per share | $ |
0.89 |
|
$ |
0.99 |
|
|
| Operating earnings per share (2) | $ |
0.82 |
|
$ |
0.76 |
|
|
| ________________________________ | |||||||
(1) |
The 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%. |
(2) |
Operating net income, operating return on average adjusted equity and operating earnings per share are non-GAAP financial measures. Management believes that investors’ understanding of core operating performance is enhanced by AMERISAFE’s disclosure of these financial measures. |
(3) |
Average shareholders’ equity is calculated by taking the average of the beginning and ending shareholders’ equity. |
(4) |
Return on average equity is calculated by dividing the annualized net income by the average shareholders’ equity. |
CONFERENCE CALL INFORMATION
AMERISAFE has scheduled a conference call for April 28, 2022, at 10:30 a.m. Eastern Time to discuss the results for the quarter and comment on future periods. To participate in the conference call, dial 323-794-2551 (Conference Code 9718445) at least ten minutes before the call begins.
Investors, analysts and the general public will also have the opportunity to listen to the conference call over the Internet by visiting 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 http://www.amerisafe.com.
ABOUT AMERISAFE
AMERISAFE, Inc. is a specialty provider of workers’ 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’ compensation insurance in 27 states.
FORWARD LOOKING STATEMENTS
Statements made in this press release that are not historical facts, including statements accompanied by words such as “will,” “believe,” “anticipate,” “expect,” “estimate,” or similar words are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding AMERISAFE’s plans and performance. These statements are based on management’s estimates, assumptions and projections as of the date of this release and are not guarantees of future performance and include statements regarding management’s views and expectations of the workers’ compensation market, the Company’s 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. Other factors that may affect our results are set forth in the Company’s filings with the Securities and Exchange Commission, including AMERISAFE’s Annual Report on Form 10-K for the year ended December 31, 2021. 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.
- Tables to Follow -
AMERISAFE, INC. AND SUBSIDIARIES
|
|||||||
Three Months Ended |
|||||||
March 31, |
|||||||
2022 |
|
2021 |
|||||
| (unaudited) | |||||||
| Revenues: | |||||||
| Gross premiums written | $ |
77,791 |
|
$ |
81,514 |
|
|
| Ceded premiums written |
|
(2,559 |
) |
|
(2,517 |
) |
|
| Net premiums written | $ |
75,232 |
|
$ |
78,997 |
|
|
| Net premiums earned | $ |
67,556 |
|
$ |
70,746 |
|
|
| Net investment income |
|
6,113 |
|
|
6,583 |
|
|
| Net realized gains on investments |
|
738 |
|
|
319 |
|
|
| Net unrealized gains on equity securities |
|
1,040 |
|
|
5,511 |
|
|
| Fee and other income |
|
113 |
|
|
192 |
|
|
| Total revenues |
|
75,560 |
|
|
83,351 |
|
|
| Expenses: | |||||||
| Loss and loss adjustment expenses incurred |
|
37,741 |
|
|
39,517 |
|
|
| Underwriting and other operating costs |
|
15,113 |
|
|
18,967 |
|
|
| Policyholder dividends |
|
1,189 |
|
|
1,350 |
|
|
| Provision for investment related credit loss | |||||||
| expense (benefit) |
|
95 |
|
|
(108 |
) |
|
| Total expenses |
|
54,138 |
|
|
59,726 |
|
|
| Income before taxes |
|
21,422 |
|
|
23,625 |
|
|
| Income tax expense |
|
4,091 |
|
|
4,313 |
|
|
| Net income | $ |
17,331 |
|
$ |
19,312 |
|
|
AMERISAFE, INC. AND SUBSIDIARIES
|
|||||
Three Months Ended |
|||||
March 31, |
|||||
2022 |
|
2021 |
|||
| (unaudited) | |||||
| Basic EPS: | |||||
| Net income | $ |
17,331 |
$ |
19,312 |
|
| Basic weighted average common shares |
|
19,332,006 |
|
19,311,710 |
|
| Basic earnings per share | $ |
0.90 |
$ |
1.00 |
|
| Diluted EPS: | |||||
| Net income | $ |
17,331 |
$ |
19,312 |
|
| Diluted weighted average common shares: | |||||
| Weighted average common shares |
|
19,332,006 |
|
19,311,710 |
|
| Restricted stock |
|
98,818 |
|
97,094 |
|
| Diluted weighted average common shares |
|
19,430,824 |
|
19,408,804 |
|
| Diluted earnings per share | $ |
0.89 |
$ |
0.99 |
|
AMERISAFE, INC. AND SUBSIDIARIES
|
|||||
|
|
|
|
||
|
March 31, |
|
December 31, |
||
|
2022 |
|
2021 |
||
| (unaudited) | |||||
| Assets | |||||
| Investments | $ |
1,030,320 |
$ |
1,012,571 |
|
| Cash and cash equivalents |
|
30,741 |
|
70,722 |
|
| Amounts recoverable from reinsurers |
|
116,233 |
|
120,561 |
|
| Premiums receivable, net |
|
140,601 |
|
135,100 |
|
| Deferred income taxes |
|
17,602 |
|
14,384 |
|
| Deferred policy acquisition costs |
|
17,877 |
|
17,059 |
|
| Other assets |
|
38,007 |
|
32,327 |
|
$ |
1,391,381 |
$ |
1,402,724 |
||
| Liabilities and Shareholders’ Equity | |||||
| Liabilities: | |||||
| Reserves for loss and loss adjustment expenses | $ |
728,558 |
$ |
745,278 |
|
| Unearned premiums |
|
128,768 |
|
121,092 |
|
| Insurance-related assessments |
|
17,622 |
|
16,850 |
|
| Other liabilities |
|
121,160 |
|
120,181 |
|
| Shareholders’ equity |
|
395,273 |
|
399,323 |
|
| Total liabilities and shareholders’ equity | $ |
1,391,381 |
$ |
1,402,724 |
|
Сообщает о Чистом совокупном коэффициенте 80,1%
ДЕРИДДЕР, Лос-Анджелес. -(ДЕЛОВАЯ ПЕРЕПИСКА)-AMERISAFE, Inc. (Nasdaq: AMSF), специализированный поставщик компенсационного страхования работников, специализирующийся на отраслях с высокой степенью опасности, сегодня объявил результаты за первый квартал, закончившийся 31 марта 2022 года.
Three Months Ended |
|
|
|||||
March 31, |
|
|
|||||
2022 |
|
2021 |
|
% Change |
|||
(in thousands, except per share data) |
|
|
|||||
| Net premiums earned | $ |
67,556 |
$ |
70,746 |
-4.5% |
||
| Net investment income |
|
6,113 |
|
6,583 |
-7.1% |
||
| Net realized gains on investments (pretax) |
|
738 |
|
319 |
NM |
||
| Net unrealized gains on equity securities (pretax) |
|
1,040 |
|
5,511 |
NM |
||
| Net income |
|
17,331 |
|
19,312 |
-10.3% |
||
| Diluted earnings per share | $ |
0.89 |
$ |
0.99 |
-10.1% |
||
| Operating net income |
|
15,926 |
|
14,706 |
8.3% |
||
| Operating earnings per share | $ |
0.82 |
$ |
0.76 |
7.9% |
||
| Book value per share | $ |
20.46 |
$ |
23.16 |
-11.7% |
||
| Net combined ratio |
|
80.1% |
|
84.6% |
|||
| Return on average equity |
|
17.4% |
|
17.4% |
|||
Джанелль Фрост, президент и главный исполнительный директор, отметила: “Обеспечение защиты малого и среднего бизнеса и ухода за их пострадавшими работниками при одновременном возврате стоимости нашим акционерам является основополагающим для нашей стратегии. В этом квартале наш подход к управлению капиталом включал регулярные ежеквартальные выплаты дивидендов и выкуп акций. Я считаю, что выкуп акций, наряду с нашими высокими операционными результатами, укрепляет нашу уверенность в наших долгосрочных планах и в базовой доходности нашего нишевого бизнеса”.
INSURANCE RESULTS |
||||||||||
Three Months Ended |
|
|
||||||||
March 31, |
|
|
||||||||
2022 |
|
2021 |
|
% Change |
||||||
| (in thousands) | ||||||||||
| Gross premiums written | $ |
77,791 |
|
$ |
81,514 |
|
-4.6 |
% |
||
| Net premiums earned |
|
67,556 |
|
|
70,746 |
|
-4.5 |
% |
||
| Loss and loss adjustment expenses incurred |
|
37,741 |
|
|
39,517 |
|
-4.5 |
% |
||
| Underwriting and certain other operating costs, | ||||||||||
| commissions, salaries and benefits |
|
15,113 |
|
|
18,967 |
|
-20.3 |
% |
||
| Policyholder dividends |
|
1,189 |
|
|
1,350 |
|
-11.9 |
% |
||
| Underwriting profit (pre-tax) | $ |
13,513 |
|
$ |
10,912 |
|
23.8 |
% |
||
| Insurance Ratios: | ||||||||||
| Current accident year loss ratio |
|
71.0 |
% |
|
72.0 |
% |
||||
| Prior accident year loss ratio |
|
-15.1 |
% |
|
-16.1 |
% |
||||
| Net loss ratio |
|
55.9 |
% |
|
55.9 |
% |
||||
| Net underwriting expense ratio |
|
22.4 |
% |
|
26.8 |
% |
||||
| Net dividend ratio |
|
1.8 |
% |
|
1.9 |
% |
||||
| Net combined ratio |
|
80.1 |
% |
|
84.6 |
% |
||||
| INVESTMENT RESULTS | ||||||||||
Three Months Ended |
|
|
||||||||
March 31, |
|
|
||||||||
2022 |
|
2021 |
|
% Change |
||||||
| (in thousands) | ||||||||||
| Net investment income | $ |
6,113 |
|
$ |
6,583 |
|
-7.1 |
% |
||
| Net realized gains on | ||||||||||
| investments (pre-tax) |
|
738 |
|
|
319 |
|
NM |
|
||
| Net unrealized gains on | ||||||||||
| equity securities (pre-tax) |
|
1,040 |
|
|
5,511 |
|
NM |
|
||
| Pre-tax investment yield |
|
2.3 |
% |
|
2.3 |
% |
||||
| Tax-equivalent yield (1) |
|
2.7 |
% |
|
2.8 |
% |
||||
| ________________________________ | ||||||||||
(1) Доходность, эквивалентная налогообложению, рассчитывается с использованием эффективной процентной ставки и соответствующей предельной налоговой ставки.
управление капиталом
В течение первого квартала 2022 года Компания выкупила 43 893 акции по средней цене $46,90 за акцию на общую сумму $2,1 млн. Оставшаяся в обращении сумма разрешения на выкуп акций составляет 22,9 миллиона долларов. С 31 марта 2022 года по 25 апреля 2022 года никаких дополнительных акций выкуплено не было.
В течение первого квартала 2022 года Компания выплатила регулярные ежеквартальные денежные дивиденды в размере 0,31 доллара США на акцию 25 марта 2022 года, что представляет собой увеличение квартальных дивидендов на 6,9% по сравнению с 2021 годом. 26 апреля 2022 года Совет директоров Компании объявил ежеквартальный денежный дивиденд в размере 0,31 доллара США на акцию, подлежащий выплате 24 июня 2022 года акционерам, зарегистрированным по состоянию на 17 июня 2022 года.
Балансовая стоимость одной акции на 31 марта 2022 года составила $20,46, что на 0,8% меньше, чем $20,62 на 31 декабря 2021 года.
SUPPLEMENTAL INFORMATION |
|||||||
Three Months Ended |
|||||||
March 31, |
|||||||
2022 |
|
2021 |
|||||
| Net income | $ |
17,331 |
|
$ |
19,312 |
|
|
| Less: | |||||||
| Net realized gains on investments |
|
738 |
|
|
319 |
|
|
| Net unrealized gains on equity securities |
|
1,040 |
|
|
5,511 |
|
|
| Tax effect (1) |
|
(373 |
) |
|
(1,224 |
) |
|
| Operating net income (2) | $ |
15,926 |
|
$ |
14,706 |
|
|
| Average shareholders’ equity (3) | $ |
397,298 |
|
$ |
443,221 |
|
|
| Less: | |||||||
| Average accumulated other comprehensive income |
|
6,797 |
|
|
18,495 |
|
|
| Average adjusted shareholders’ equity (2) | $ |
390,501 |
|
$ |
424,726 |
|
|
| Diluted weighted average common shares |
|
19,430,824 |
|
|
19,408,804 |
|
|
| Return on average equity (4) |
|
17.4 |
% |
|
17.4 |
% |
|
| Operating return on average adjusted equity (2) |
|
16.3 |
% |
|
13.9 |
% |
|
| Diluted earnings per share | $ |
0.89 |
|
$ |
0.99 |
|
|
| Operating earnings per share (2) | $ |
0.82 |
|
$ |
0.76 |
|
|
| ________________________________ | |||||||
(1) |
The 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%. |
(2) |
Operating net income, operating return on average adjusted equity and operating earnings per share are non-GAAP financial measures. Management believes that investors’ understanding of core operating performance is enhanced by AMERISAFE’s disclosure of these financial measures. |
(3) |
Average shareholders’ equity is calculated by taking the average of the beginning and ending shareholders’ equity. |
(4) |
Return on average equity is calculated by dividing the annualized net income by the average shareholders’ equity. |
информация о конференц-звонке
AMERISAFE запланировал телефонную конференцию на 28 апреля 2022 года в 10:30 утра по восточному времени, чтобы обсудить результаты за квартал и прокомментировать будущие периоды. Чтобы принять участие в конференц-звонке, наберите 323-794-2551 (код конференции 9718445) по крайней мере за десять минут до начала вызова.
Инвесторы, аналитики и широкая общественность также будут иметь возможность прослушать конференц-связь через Интернет, посетив http://www .AMERISAFE.com . Чтобы прослушать прямой вызов в Интернете, пожалуйста, посетите веб-сайт по крайней мере за пятнадцать минут до начала вызова, чтобы зарегистрироваться, загрузить и установить любое необходимое звуковое программное обеспечение. Для тех, кто не может прослушать прямую трансляцию, архив будет доступен вскоре после звонка по адресу http://www .AMERISAFE.com .
о AMERISAFE
AMERISAFE, Inc. - специализированный поставщик компенсационного страхования работников, ориентированный на работодателей малого и среднего бизнеса, занятых в опасных отраслях промышленности, в основном в строительстве, грузоперевозках, лесозаготовках и пиломатериалах, сельском хозяйстве и производстве. AMERISAFE активно продает страхование компенсаций работникам в 27 штатах.
прогнозные заявления
Заявления, сделанные в этом пресс-релизе, которые не являются историческими фактами, включая заявления, сопровождаемые такими словами, как “будет”, “верить”, “ожидать”, “ожидать”, “оценивать” или подобными словами, являются прогнозными заявлениями по смыслу Закона о реформе судебных разбирательств по частным ценным бумагам 1995 года в отношении Планы и производительность AMERISAFE. Эти заявления основаны на оценках, предположениях и прогнозах руководства на дату настоящего выпуска и не являются гарантией будущих результатов и включают заявления, касающиеся взглядов и ожиданий руководства относительно рынка компенсаций работникам, возможностей роста Компании, маржи андеррайтинга и действий конкурентов. Фактические результаты могут существенно отличаться от результатов, выраженных или подразумеваемых в этих заявлениях, если лежащие в их основе допущения окажутся неверными или в результате рисков, неопределенностей и других факторов. Другие факторы, которые могут повлиять на наши результаты, изложены в заявках Компании в Комиссию по ценным бумагам и биржам, включая годовой отчет AMERISAFE по форме 10-K за год, закончившийся 31 декабря 2021 года. AMERISAFE предостерегает вас от чрезмерного доверия к прогнозным заявлениям, содержащимся в этом выпуске. AMERISAFE не берет на себя никаких обязательств по публичному обновлению или пересмотру любых прогнозных заявлений, чтобы отразить будущие события, информацию или обстоятельства, которые возникнут после даты этого выпуска.
- Таблицы для подражания -
AMERISAFE, INC. AND SUBSIDIARIES
|
|||||||
Three Months Ended |
|||||||
March 31, |
|||||||
2022 |
|
2021 |
|||||
| (unaudited) | |||||||
| Revenues: | |||||||
| Gross premiums written | $ |
77,791 |
|
$ |
81,514 |
|
|
| Ceded premiums written |
|
(2,559 |
) |
|
(2,517 |
) |
|
| Net premiums written | $ |
75,232 |
|
$ |
78,997 |
|
|
| Net premiums earned | $ |
67,556 |
|
$ |
70,746 |
|
|
| Net investment income |
|
6,113 |
|
|
6,583 |
|
|
| Net realized gains on investments |
|
738 |
|
|
319 |
|
|
| Net unrealized gains on equity securities |
|
1,040 |
|
|
5,511 |
|
|
| Fee and other income |
|
113 |
|
|
192 |
|
|
| Total revenues |
|
75,560 |
|
|
83,351 |
|
|
| Expenses: | |||||||
| Loss and loss adjustment expenses incurred |
|
37,741 |
|
|
39,517 |
|
|
| Underwriting and other operating costs |
|
15,113 |
|
|
18,967 |
|
|
| Policyholder dividends |
|
1,189 |
|
|
1,350 |
|
|
| Provision for investment related credit loss | |||||||
| expense (benefit) |
|
95 |
|
|
(108 |
) |
|
| Total expenses |
|
54,138 |
|
|
59,726 |
|
|
| Income before taxes |
|
21,422 |
|
|
23,625 |
|
|
| Income tax expense |
|
4,091 |
|
|
4,313 |
|
|
| Net income | $ |
17,331 |
|
$ |
19,312 |
|
|
AMERISAFE, INC. AND SUBSIDIARIES
|
|||||
Three Months Ended |
|||||
March 31, |
|||||
2022 |
|
2021 |
|||
| (unaudited) | |||||
| Basic EPS: | |||||
| Net income | $ |
17,331 |
$ |
19,312 |
|
| Basic weighted average common shares |
|
19,332,006 |
|
19,311,710 |
|
| Basic earnings per share | $ |
0.90 |
$ |
1.00 |
|
| Diluted EPS: | |||||
| Net income | $ |
17,331 |
$ |
19,312 |
|
| Diluted weighted average common shares: | |||||
| Weighted average common shares |
|
19,332,006 |
|
19,311,710 |
|
| Restricted stock |
|
98,818 |
|
97,094 |
|
| Diluted weighted average common shares |
|
19,430,824 |
|
19,408,804 |
|
| Diluted earnings per share | $ |
0.89 |
$ |
0.99 |
|
AMERISAFE, INC. AND SUBSIDIARIES
|
|||||
|
|
|
|
||
|
March 31, |
|
December 31, |
||
|
2022 |
|
2021 |
||
| (unaudited) | |||||
| Assets | |||||
| Investments | $ |
1,030,320 |
$ |
1,012,571 |
|
| Cash and cash equivalents |
|
30,741 |
|
70,722 |
|
| Amounts recoverable from reinsurers |
|
116,233 |
|
120,561 |
|
| Premiums receivable, net |
|
140,601 |
|
135,100 |
|
| Deferred income taxes |
|
17,602 |
|
14,384 |
|
| Deferred policy acquisition costs |
|
17,877 |
|
17,059 |
|
| Other assets |
|
38,007 |
|
32,327 |
|
$ |
1,391,381 |
$ |
1,402,724 |
||
| Liabilities and Shareholders’ Equity | |||||
| Liabilities: | |||||
| Reserves for loss and loss adjustment expenses | $ |
728,558 |
$ |
745,278 |
|
| Unearned premiums |
|
128,768 |
|
121,092 |
|
| Insurance-related assessments |
|
17,622 |
|
16,850 |
|
| Other liabilities |
|
121,160 |
|
120,181 |
|
| Shareholders’ equity |
|
395,273 |
|
399,323 |
|
| Total liabilities and shareholders’ equity | $ |
1,391,381 |
$ |
1,402,724 |
|
