Q2 2025 Amerisafe Inc Earnings Call Transcript
Key Points
- AMERISAFE Inc (AMSF) achieved a 12.8% growth in voluntary premiums for policies written in the quarter, driven by new business growth and strong renewal retention.
- The company reported a 3.4% increase in enforced policy count, supported by a 93.8% renewal retention rate.
- AMERISAFE Inc (AMSF) experienced $8.6 million of favorable development in the quarter, primarily from accident years 2020 and prior.
- The board of directors approved a $25 million share repurchase program, reflecting confidence in the long-term value of the business.
- Net income for the second quarter of 2025 was $14 million, an increase from $11 million in the same quarter of 2024, driven by stronger valuations across equity holdings.
- The company's expense ratio increased to 31.3% in the quarter, up from 29.8% in the prior year quarter, due to ongoing investments in growth.
- Net investment income decreased by 10.2% to $6.7 million, attributed to a decrease in investable assets following the payment of a special dividend.
- Audit premiums, which are earned immediately, have declined compared to the prior year, impacting net premiums earned.
- The average policy size may have slightly decreased due to wage growth balancing out with approved loss cost changes.
- There is upward pressure on the 71% accident year loss ratio assumption due to continued declines in loss costs.
Please stand by we're about to begin.
Good day and welcome to the Amerisafe 2nd quarter 2025 earnings call. Today's conference is being recorded.
At this time I would like to turn the conference over to Katherine Shirley. Please go ahead.
Thank you, operator, and good morning everyone. Welcome to the Amerisafe 2025 2nd quarter investor call.
If you have not received the earnings release, it is available on our website at Amerisafe.com.
This call is being recorded. A replay of today's call will be available.
Details on how to access the replay are in the earnings release.
During this call, we will be making forward-looking statements intended to fall within the safe harbor provided under the securities laws. These statements are based on current expectations and assumptions that are subject to various risk and uncertainties.
Actual results may differ materially from the results expressed or
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