AMERISAFE Q1 2024 net income falls 2.4% to $16.9 million; combined ratio rises to 87.3%
AMERISAFE reported first-quarter 2024 results on April 24, 2024, with net income of $16.9 million and diluted EPS of $0.88, both slightly lower than a year earlier. Total revenues rose to $80.5 million, but net premiums earned fell 1.1%, and the net combined ratio worsened to 87.3% from 82.2%, so underwriting profit fell 29.2%. For shareholders, the quarter shows steady headline earnings but weaker underlying insurance profitability.
Key points
- Net income was $16.9 million, down 2.4% from $17.3 million; diluted EPS was $0.88 versus $0.90.
- Operating earnings per share, a non-GAAP measure, fell 16.9% to $0.69 from $0.83.
- Net combined ratio rose to 87.3% from 82.2%, and underwriting profit fell 29.2% to $8.7 million.
- Book value per share was $15.74 at March 31, 2024, up 3.0% from $15.28 at December 31, 2023; a $0.37 quarterly dividend was declared April 23, 2024.
The filing
Written by AI on Nov 8, 2026, 2:07 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 24, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.