Amerisafe Net Income Up as Gross Premiums Stay Level

Amerisafe on Thursday reported net income of $19.7 million in the third quarter, an 18.8% increase from $16.6 million for the same period last year. Amerisafe reported $85.3 million in gross written premiums during the third quarter, a 2% decline from $87 million in the third quarter of 2017. For the first nine months of 2018, gross written premiums were $276.4 million, up 2.7% from the prior-year quarter. The carrier’s net combined ratio dropped to 81.1% during the quarter, from 81.4% in the same period last year. “Industrywide loss costs continued to decline this quarter, ...