AMERISAFE reports FY2022 net income $55.6M, combined ratio 83.6%; raises dividend 9.7%

AMERISAFE INC

2022-FY EPS reported $2.88 revenue$294,737,000

Full-year 2022 net income $55.6M ($2.88 diluted EPS); operating EPS $3.07.
Net combined ratio improved to 83.6% from 85.7% in 2021; underwriting profit $44.7M.
Quarterly dividend raised 9.7% to $0.34/share, payable March 24, 2023 to holders of record March 10.
Net premiums earned $271.7M, down 1.6% YoY; net investment income up 7% to $27.2M.
Favorable prior-year reserve development of $40.6M reduced loss ratio.

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