Amerisafe Struggles Against Multi-Line Competitors; Q3 Profit Dips

Amerisafe has reported net income for the third quarter of $16.6 million, a 7.4% decrease from $17.9 million in the same quarter last year. For the first nine months of the year, net income was $45.6 million, down 22% from $58.8 million during the prior-year period. Net premiums earned decreased 5.3% in the third quarter, to $83 million, and were down 6.4% for the first nine months of the year, to $259 million. The third quarter combined ratio of 81.4% was up from 80.3% in the prior-year quarter. For the first nine months of the year, combined ratio was 83.5%, compared with 77% in...