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Sep 30, 2020
Amerisafe Q3 2020 Earnings Report
Amerisafe's financial performance improved in Q3 2020, marked by increased net income and diluted earnings per share.
Key Takeaways
Amerisafe reported a strong Q3 2020, with net income rising to $19.4 million, or $1.01 per diluted share, compared to $14.8 million, or $0.77 per diluted share, for the same quarter in the prior year. The combined ratio improved to 85.3% from 87.4% in the prior year quarter. Gross premiums written increased to $154.1 million from $139.1 million in the prior year quarter.
Net income increased to $19.4 million, or $1.01 per diluted share, compared to $14.8 million, or $0.77 per diluted share, for the same quarter in the prior year.
Gross premiums written increased to $154.1 million from $139.1 million in the prior year quarter.
The combined ratio improved to 85.3% from 87.4% in the prior year quarter.
The expense ratio was 25.1% compared to 26.5% for the same period in 2019.
Forward Guidance
While no specific financial guidance is provided, the company's outlook focuses on maintaining underwriting discipline and managing expenses effectively.
Positive Outlook
- Focus on underwriting discipline to maintain profitability.
- Commitment to managing expenses effectively.
- Aim to generate long-term value for shareholders.
- Continued monitoring of market conditions to adapt strategies.
- Emphasis on workplace safety
Challenges Ahead
- Uncertainty regarding the ongoing impact of the COVID-19 pandemic.
- Potential for changes in the competitive landscape.
- Exposure to regulatory and legislative changes.
- Risk of adverse economic conditions affecting business operations.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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