Amerisafe CEO Points to Favorable Market as Co. Grows Net Income 23%

Amerisafe, a workers' compensation carrier that focuses on hazardous business, grew its net income 23% in 2014. The company reported net income of $53.7 million in 2014, up from $43.6 million the year prior, in its fourth-quarter earnings statement on Thursday. Amerisafe's net earned premiums rose 13.9% from $330 million to $375.7 million, while its losses and loss-adjustment expenses rose 7% from $229 million to $244.9 million. Amerisafe's combined ratio dropped from 90% to 87.9%. Allen Bradley, the company's chief executive officer, said market conditions have been favorabl...