AMERISAFE Q2 net income falls 29.7% to $11.0 million as premiums rise 4.6%
AMERISAFE reported second-quarter 2024 net income of $11.0 million, down 29.7% from $15.6 million a year earlier, and diluted EPS of $0.57, down from $0.81. Net premiums earned rose 4.6% to $68.6 million, but higher loss and expense costs cut underwriting profit by 31.2% to $6.5 million, so shareholders saw lower per-share earnings even as the insurer wrote more business.
Key points
- Diluted EPS was $0.57 for the quarter, versus $0.81 in Q2 2023; operating EPS was $0.58, versus $0.73.
- Net premiums earned rose 4.6% to $68.6 million, while the net combined ratio worsened to 90.5% from 85.4%.
- Favorable prior accident year reserve development reduced loss expenses by $8.1 million.
- The Board declared a quarterly dividend of $0.37 per share on July 26, 2024, payable September 20, 2024; a conference call is set for July 30, 2024.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 2:07 AM ET, from the text of the filing and its press-release exhibits 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 July 29, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.