Amerisafe Net Income Up 33% despite Reduced Premiums

Amerisafe reported net income of $17.9 million in the third quarter, a 33.1% increase from $13.5 million in the third quarter of 2014. The DeRidder, Louisiana-based carrier, which specializes in high-hazard workers' compensation insurance, reported net earned premiums of $90.5 million, down 5.7% from $95.9 million in the prior-year quarter. Executive Chairman Allen Bradley said that the workers' compensation market transitioned to a more competitive environment during the third quarter, with price decreasing slowly due to decreases in loss costs rather than carrier discounting. For ...