Amerisafe Inc., a monoline workers’ comp carrier focused on businesses in high-hazard industries, has reported second-quarter net income of $17.9 million, a 5.5% increase from net income of $17.0 million in the prior-year quarter.
For the first half of the year, net income was $37.3 million, up 13% from the first half of last year.
The increased profit came despite a 7% drop in gross premiums written in the quarter, which fell to $87.0 million. Gross premiums written for the first half of the year were down 5.7%, to $180 million.
The company said the drop in gross written premiums was...
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