Amerisafe reports $21.4 million profit

Oct. 31--Amerisafe, a DeRidder writer of hazardous worker's compensation insurance, reported third quarter net income of $21.4 million, or $1.11 a share, compared to $19.7 million, or $1.02 a share, a year ago.

The rise in income happened despite Amerisafe generating less money from insurance premiums. The company earned $82.7 million from premiums in the third quarter, a 2.9% drop from the $85.2 million it earned in third quarter 2018. The decrease was caused by lower voluntary premiums on polices written during the quarter.

"Our response to the soft insurance cycle hinged on our providing quality services with disciplined underwriting as competition and declining rates lowered premiums," said C. Janelle Frost, president and chief executive officer of Amerisafe.

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