Overview
Amerisafe Q2 gross premiums rise 4.3% yr/yr, driven by 12.8% voluntary premium growth
Adjusted EPS for Q2 marginally misses analysts' expectations, per LSEG data
Net investment income declines 10.2% due to decreased investable assets
Result Drivers
VOLUNTARY PREMIUM GROWTH - Voluntary premiums on policies written increased 12.8%, driven by stable policy retention and robust new business production
LOSS RATIO IMPROVEMENT - Favorable net loss reserve development for prior accident years reduced loss and loss adjustment expenses by $8.6 mln, improving the loss ratio to 58.6%
UNDERWRITING EXPENSES - Underwriting expense ratio rose to 31.3% due to higher insurance-based assessments and sustained business investment
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Gross Premiums | $79.70 mln | ||
Q2 Adjusted EPS | Miss | $0.53 | $0.54 (4 Analysts) |
Q2 EPS | $0.73 | ||
Q2 Net Income | $13.96 mln | ||
Q2 Combined Ratio | 91.7% | ||
Q2 Underwriting Profit | $5.74 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the property & casualty insurance peer group is "buy."
Wall Street's median 12-month price target for Amerisafe Inc is $54.00, about 18.5% above its July 23 closing price of $44.00
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 23 three months ago
Press Release: ID:nBw8rDKXka
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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