Published on 21 Feb 2024 on GuruFocus.com via Yahoo Finance
AMERISAFE Inc Reports Solid Year-End Financials with 20.4% ROE
Net Income: $62.1 million for the year, an 11.7% increase from the previous year.Return on Equity (ROE): Strong performance with a 20.4% ROE for 2023.Net Combined Ratio: Maintained at an efficient 85.9% for the year.Gross Premiums Written: Increased by 8.4% in Q4 and 3.3% year-over-year.Net Investment Income: Grew by 15.1% to $31.3 million in 2023.Dividend Increase: Quarterly dividend raised by 8.8% to $0.37 per share.Share Repurchase: $2.2 million worth of shares repurchased in Q4 2023.
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On February 21, 2024, AMERISAFE Inc (NASDAQ:AMSF), a specialty provider of workers' compensation insurance for high-hazard industries, released its 8-K filing, disclosing its financial results for the fourth quarter and the full year ended December 31, 2023. The company's performance highlights include a modest decrease in net premiums earned, a significant increase in net investment income, and a solid return on equity (ROE) of 20.4% for the year.