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Schedule II - Condensed Financial Information of Registrant | 12 Months Ended
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Dec. 31, 2012
Condensed Financial Information of Registrant [Abstract] |
Condensed Financial Information of Registrant | Condensed Financial Information of Registrant AMERISAFE, INC. CONDENSED BALANCE SHEETS
|  | December 31, |
| 2012 |  |  | 2011 |
|  | (In thousands) |
Assets |  |  |  |  |  |  |  |
Investments: |  |  |  |  |  |  |  |
Short-term investments |  | $ | 11,161 |  |  | $ | 25,564 |
Fixed-maturity securities—held to maturity, at amortized cost |  |  | 678 |  |  |  | 701 |
Fixed-maturity securities—available-for-sale, at fair value |  |  | 1,018 |  |  |  | 2,933 |
Equity securities—available-for-sale, at fair value |  |  | — |  |  |  | 780 |
Investment in subsidiaries |  |  | 330,825 |  |  |  | 321,727 |
Total investments |  |  | 343,682 |  |  |  | 351,705 |
Cash and cash equivalents |  |  | 31,792 |  |  |  | 14,887 |
Deferred income taxes |  |  | 1,312 |  |  |  | 1,458 |
Notes receivable from subsidiaries |  |  | 1,235 |  |  |  | 5,501 |
Property and equipment, net |  |  | 2,214 |  |  |  | 2,018 |
Other assets |  |  | 987 |  |  |  | 860 |
|  | $ | 381,222 |  |  | $ | 376,429 |
Liabilities, redeemable preferred stock and shareholders’ equity |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |
Accounts payable and other liabilities |  | $ | — |  |  | $ | 596 |
Payable for securities purchased |  |  | — |  |  |  | 616 |
Subordinated debt securities |  |  | — |  |  |  | 25,780 |
Total liabilities |  |  | — |  |  |  | 26,992 |
Shareholders’ equity (net of Treasury stock of $22,370 at December 31, 2012 and 2011) |  |  | 381,222 |  |  |  | 349,437 |
|  | $ | 381,222 |  |  | $ | 376,429 |
AMERISAFE, INC. CONDENSED STATEMENTS OF INCOME
|  | Year Ended December 31, |
| 2012 |  |  | 2011 |  |  | 2010 |
|  | (In thousands) |
Revenues |  |  |  |  |  |  |  |  |  |  |  |
Net investment income |  | $ | 571 |  |  | $ | 478 |  |  | $ | (211 | )
Fee and other income |  |  | 4,765 |  |  |  | 9,710 |  |  |  | 7,258 |
Total revenues |  |  | 5,336 |  |  |  | 10,188 |  |  |  | 7,047 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Other operating costs |  |  | 4,770 |  |  |  | 4,827 |  |  |  | 6,956 |
Interest expense |  |  | 566 |  |  |  | 1,311 |  |  |  | 1,548 |
Total expenses |  |  | 5,336 |  |  |  | 6,138 |  |  |  | 8,504 |
Income (loss) before income taxes and equity in earnings of subsidiaries |  |  | — |  |  |  | 4,050 |  |  |  | (1,457 | )
Income tax expense (benefit) |  |  | (9 | ) |  |  | 1,213 |  |  |  | (307 | )
Gain (loss) before equity in earnings of subsidiaries |  |  | 9 |  |  |  | 2,837 |  |  |  | (1,150 | )
Equity in net income of subsidiaries |  |  | 29,344 |  |  |  | 21,344 |  |  |  | 35,670 |
Net income |  | $ | 29,353 |  |  | $ | 24,181 |  |  | $ | 34,520 |
AMERISAFE, INC. CONDENSED STATEMENTS OF CASH FLOWS
|  | Year Ended December 31, |
| 2012 |  |  | 2011 |  |  | 2010 |
|  | (In thousands) |
Operating activities |  |  |  |  |  |  |  |  |  |  |  |
Net cash (used in) provided by operating activities |  | $ | 5,149 |  |  | $ | (3,646 | ) |  | $ | 5,338 |
Investing activities |  |  |  |  |  |  |  |  |  |  |  |
Purchases of investments |  |  | (23,361 | ) |  |  | (57,148 | ) |  |  | (12,491 | )
Proceeds from sales of investments |  |  | 39,537 |  |  |  | 40,990 |  |  |  | 1,090 |
Purchases of property and equipment |  |  | (842 | ) |  |  | (943 | ) |  |  | (486 | )
Dividends from subsidiary |  |  | 21,000 |  |  |  | 32,000 |  |  |  | 32,300 |
Net cash provided by investing activities |  |  | 36,334 |  |  |  | 14,899 |  |  |  | 20,413 |
Financing activities |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from stock option exercise |  |  | 781 |  |  |  | 3,339 |  |  |  | 1,455 |
Tax benefit from share-based payments |  |  | 421 |  |  |  | 1,043 |  |  |  | 238 |
Redemption of Subordinated Debt Security |  |  | (25,780 | ) |  |  | (10,310 | ) |  |  | — |
Purchase of treasury stock |  |  | — |  |  |  | (10,268 | ) |  |  | (12,102 | )
Net cash used in financing activities |  |  | (24,578 | ) |  |  | (16,196 | ) |  |  | (10,409 | )
Change in cash and cash equivalents |  |  | 16,905 |  |  |  | (4,943 | ) |  |  | 15,342 |
Cash and cash equivalents at beginning of year |  |  | 14,887 |  |  |  | 19,830 |  |  |  | 4,488 |
Cash and cash equivalents at end of year |  | $ | 31,792 |  |  | $ | 14,887 |  |  | $ | 19,830 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e24072-122690 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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