AMERISAFE Announces 2021 First Quarter Results

Rhea-AI Summary

AMERISAFE, Inc. (Nasdaq: AMSF) reported financial results for Q1 2021, highlighting a significant decline in key metrics compared to Q1 2020. Net premiums earned dropped by 10.4% to $70.746 million, while net investment income fell by 15.0% to $6.583 million. Additionally, net realized gains on investments saw a sharp decline of 67.8%, totaling $319,000. These changes indicate potential challenges in the company's financial performance as it navigates a competitive insurance market.

Positive

• None.

Negative

• Net premiums earned decreased by 10.4% to $70.746 million.
• Net investment income fell by 15.0% to $6.583 million.
• Net realized gains on investments dropped by 67.8% to $319,000.

AMERISAFE, Inc. (Nasdaq: AMSF), a specialty provider of workers’ compensation insurance focused on high hazard industries, today announced results for the first quarter ended March 31, 2021.

		Three Months Ended
		March 31,
		2021				2020				% Change
		(in thousands, except per share data)
Net premiums earned		$	70,746			$	78,990			-10.4	%
Net investment income			6,583				7,749			-15.0	%
Net realized gains on investments (pretax)			319				992			-67.8

FAQ

What were AMERISAFE's Q1 2021 results for net premiums earned?

For Q1 2021, AMERISAFE reported net premiums earned of $70.746 million, a decrease of 10.4% compared to Q1 2020.

How did AMERISAFE's net investment income perform in Q1 2021?

AMERISAFE's net investment income for Q1 2021 was $6.583 million, reflecting a 15.0% decrease from the previous year.

What was the change in net realized gains on investments for AMERISAFE in Q1 2021?

The net realized gains on investments for AMERISAFE in Q1 2021 decreased by 67.8%, amounting to $319,000.