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AMERISAFE reported a decrease in net income to $11.361 million and diluted earnings per share to $0.59 for the third quarter of 2022, compared to $19.136 million and $0.99 respectively in the same period of 2021. However, operating earnings were strong, enhanced by insureds’ payroll growth and favorable loss development.
Net income decreased by 40.6% compared to Q3 2021.
Diluted earnings per share decreased by 40.4% compared to Q3 2021.
The company's net combined ratio was 85.4%.
Net investment income increased by 15.4% compared to Q3 2021.
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