XML 43 R32.htm IDEA: XBRL DOCUMENT v3.25.0.1

Schedule II. Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Schedule II. Condensed Financial Information of Registrant

Schedule II. Condensed Financial Information of Registrant

AMERISAFE, INC.

CONDENSED BALANCE SHEETS

		December 31,
		2024				2023
		(in thousands)
Assets:
Investments:
Fixed maturity securities—available-for-sale, at fair value    (amortized cost $4,988 and $24,309 in 2024 and 2023, respectively)		$	4,925			$	24,283
Equity securities, at fair value (cost $5,110 and $7,108 in 2024    and 2023, respectively)			8,000				9,857
Investment in subsidiaries			230,936				249,159
Total investments			243,861				283,299
Cash and cash equivalents			11,793				6,635
Deferred income taxes			685				880
Notes receivable from subsidiaries			2,007				1,925
Property and equipment, net			762				1,933
Federal income tax recoverable			1,676				784
Other assets			1,051				1,099
Total assets		$	261,835			$	296,555
Liabilities and shareholders’ equity
Liabilities:
Accounts payable and other liabilities			4,494				4,104
Total liabilities			4,494				4,104
Shareholders' equity (net of Treasury stock of $42,052 and $36,929    at December 31, 2024 and 2023, respectively)			257,341				292,451
Total liabilities and shareholders' equity		$	261,835			$	296,555

Schedule II. Condensed Financial Information of Registrant – (Continued)

AMERISAFE, INC.

CONDENSED STATEMENTS OF INCOME

		Year Ended December 31,
		2024				2023				2022
		(in thousands)
Revenues
Net investment income		$	2,279			$	4,861			$	2,395
Net unrealized gains (losses) on equity securities			141				(845	)			(490	)
Fee and other income			10,395				8,933				9,533
Total revenues			12,815				12,949				11,438
Expenses
Other operating costs			10,395				8,932				9,533
Total expenses			10,395				8,932				9,533
Income before income taxes and equity in earnings of subsidiaries			2,420				4,017				1,905
Income tax expense			1,412				1,055				714
Gain before equity in earnings of subsidiaries			1,008				2,962				1,191
Equity in net income of subsidiaries			54,428				59,146				54,411
Net income		$	55,436			$	62,108			$	55,602

Schedule II. Condensed Financial Information of Registrant – (Continued)

AMERISAFE, INC.

CONDENSED STATEMENTS OF CASH FLOWS

		Year Ended December 31,
		2024				2023				2022
		(in thousands)
Operating activities
Net cash provided by operating activities		$	2,623			$	5,591			$	6,121
Investing activities
Purchases of investments			—				(24,885	)			(31,909	)
Proceeds from sales of investments			22,502				35,013				75,950
Purchases of property and equipment			231				(482	)			(1,903	)
Dividends from subsidiary			71,000				56,000				77,700
Net cash provided by investing activities			93,733				65,646				119,838
Financing activities
Finance lease purchases			(85	)			(91	)			(58	)
Share-based compensation related tax withholding			(554	)			(944	)			—
Purchase of treasury stock			(5,123	)			(2,171	)			(12,388	)
Dividends to shareholders			(85,436	)			(93,307	)			(100,427	)
Net cash used in financing activities			(91,198	)			(96,513	)			(112,873	)
Change in cash and cash equivalents			5,158				(25,276	)			13,086
Cash and cash equivalents at beginning of year			6,635				31,911				18,825
Cash and cash equivalents at end of year		$	11,793			$	6,635			$	31,911

X

- References

No definition available.

+ Details

Name:	srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix:	srt_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-11

+ Details

Name:	us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration