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AMERISAFE, Inc. (AMSF) is a specialty provider of workers' compensation insurance, primarily serving small to mid-sized employers in hazardous industries. The company offers statutorily prescribed benefits to employees injured during the course of their employment, including wage replacement, medical care, and compensation for disabilities or death. AMERISAFE operates exclusively within the workers' compensation insurance sector, focusing on industries with high workplace hazards.
- Insurance Operations - Provides workers' compensation insurance tailored for small to mid-sized employers in high-hazard industries such as construction, trucking, logging, agriculture, manufacturing, maritime, and telecommunications. All revenues are derived from this single segment, evaluated on a consolidated basis.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
G. Janelle Frost ExecutiveBoard | President and Chief Executive Officer | Director of the National Council on Compensation Insurance since May 2023 ; Director of the Federal Reserve Bank of Atlanta since January 2025 | CEO of AMSF since April 2015 , serving as President since September 2013 and as a Director since April 2016. | View Report → |
Anastasios G. (Andy) Omiridis Executive | Executive Vice President and Chief Financial Officer | Anastasios G. (Andy) Omiridis has been serving as Executive Vice President and Chief Financial Officer at AMERISAFE, Inc. since September 2022, and previously held senior financial leadership roles at Kemper Corporation, Chubb Life, ARGO Limited, and AIG. | ||
Kathryn H. Shirley Executive | Executive Vice President, Chief Administrative Officer, and Secretary | Kathryn H. Shirley is the Executive Vice President, Chief Administrative Officer, and Secretary at AMERISAFE since February 2020. Previously, she served as Executive Vice President, General Counsel, and Secretary (February 2016 to February 2020) and as Senior Vice President, General Counsel, and Secretary (May 2012 to February 2016). | ||
Raymond F. (Ray) Wise Executive | Executive Vice President and Chief Sales Officer | Raymond F. (Ray) Wise, Jr. is the Executive Vice President and Chief Sales Officer at AMERISAFE, Inc. since July 2023. Previously, he served as Chief Sales Officer for Employers Insurance Group from 2016 to 2022 and as President of Vanliner Insurance Company from 2012 to 2016. | ||
Vincent J. Gagliano Executive | Executive Vice President and Chief Risk Officer | Vincent J. Gagliano has served as the Executive Vice President and Chief Risk Officer at AMERISAFE, Inc. since March 2016, after holding roles such as Executive Vice President and Chief Technology Officer from January 2013 to February 2016 and Senior Vice President of Information Technology from September 2009 to January 2013. | ||
Billy B. Greer Board | Director | Managing Director for PGIM Private Capital | Billy B. Greer has served as a director at AMSF since March 2022 and is a member of the Compensation Committee. He brings extensive expertise in investment management, business development, and asset administration, and has served as the Managing Director for PGIM Private Capital since 2012. | |
Jared A. Morris Board | Chairman of the Board | Officer and Principal Owner at Marine One Acceptance Corporation since 2002 ; Officer at Dumont Management Group, LLC since 2002 ; Associated with Dumont Land, LLC since 2002 ; Board Member at First National Bank of DeRidder ; Audit Committee Member at Beauregard Health System | Jared A. Morris has served as the Chairman of the Board at AMSF since April 2016 and as a director since 2005. Previously, he was the lead director starting in November 2012. | |
Michael J. Brown Board | Director of AMSF | Director of Red River Bancshares, Inc. | Michael J. Brown has served as a director at AMSF since November 2014. He currently chairs the Compensation Committee and serves on the Audit Committee. | |
Philip A. Garcia Board | Director and Chair of the Audit Committee | Philip A. Garcia has served as a director at AMERISAFE, Inc. since 2010 as Chair of the Audit Committee, demonstrating extensive expertise in financial and insurance industries; he previously held executive roles such as CFO at Erie Insurance Group from 1997 to 2009. | ||
Randall E. Roach Board | Director | Director of The First National Bank of Louisiana; Director of Financial Corporation of Louisiana | Randall E. Roach has served as a Director at AMSF since March 2007 and currently chairs the Nominating and Corporate Governance Committee while serving on the Audit Committee as an 'audit committee financial expert'. | |
Sean M. Traynor Board | Director | General Partner at Welsh, Carson, Anderson & Stowe; Director at Managed Markets Insights and Technology, LLC | Sean M. Traynor has served as a director of AMSF since March 2020 and previously held a director position from 2001 to 2013. He brings extensive expertise in insurance and healthcare from his role as a General Partner at Welsh, Carson, Anderson & Stowe. | |
Teri G. Fontenot Board | Director | Director and Audit Chair at Bitcoin Depot; Director at AMN Healthcare Services, Inc. | Teri G. Fontenot has been a director of AMSF since January 2016. She brings extensive healthcare leadership and financial expertise, having held roles such as CEO at Woman's Hospital and board positions at the American Hospital Association and AMN Healthcare Services, Inc.. |
- Considering last year’s audit premium adjustments ranged from $2.5 million to $7.3 million across quarters, can you detail the primary factors driving these fluctuations and how management plans to stabilize this variability going forward?
- With rebuilding classifications driving a noticeable premium increase in states like North Carolina and Georgia, how do you plan to quantify and mitigate potential long‐term underwriting risks in these high-exposure regions?
- Given your guidance on potential tariff impacts affecting approximately 15% of medical costs, can you elaborate on the specific strategies to manage potential cost pass-through challenges in the durable medical equipment segment?
- The call noted an elevated underwriting expense increase of $1.9 million due to scale investments; what concrete measures are in place to reduce these costs in future quarters while supporting continued growth?
- With state loss cost adjustments varying significantly—from a 0.5% decrease to nearly 14%—what are the key drivers behind this disparity, and how does management intend to adjust rate filings to protect margins in tougher market segments?
Recent press releases and 8-K filings for AMSF.
- Amerisafe’s Q1 2025 results showed a net income of $8.9M and operating net income of $11.4M, reflecting a decline from Q1 2024 primarily due to equity valuation losses.
- Gross written premiums increased 4.6% YoY to $83.8M, driven by strong new business and retention, while audit premium adjustments varied across quarters.
- Management highlighted a 29.9% expense ratio, noting a $1.9M rise in expenses related to investments in growth, with expectations for moderation in future quarters.
- AMERISAFE, Inc. announced its Q1 2025 financial results via an 8-K filing dated April 29, 2025, reporting net income of $8.95 million and diluted EPS of $0.47.
- Andy Omiridis, EVP & CFO (contact: 337-463-9052) emphasized the company’s focus on profitable underwriting and growth in its specialty workers’ compensation segment.
- The release highlighted key operational metrics including improvements in net premiums earned and underwriting performance, with detailed exhibits attached to the filing.
- Q4 2024 earnings: Reported net income of $13.2 million (EPS of $0.69) and operating net income of $12.8 million, reflecting a decrease compared to Q4 2023.
- Top-line growth: Achieved gross written premiums of $62.7 million (up 3.9%) and net premiums earned of $66.5 million, driven by robust voluntary premium increases and a strong policy retention rate of 94.1% on a policy basis.
- Capital management: Increased the regular dividend by 5.4% to $0.39 per share, underscoring a focused approach on shareholder value.
- AMERISAFE Inc reported its Q4 2024 financial results, including a net income of $55.4 million and a full-year return on equity of 20.2%, underlining solid profitability in a competitive market.
- The Board increased its quarterly dividend by 5.4%, raising the payout from $0.37 to $0.39 per share, payable on March 21, 2025.
- The announcement was confirmed by EVP & CFO Andy Omiridis, reinforcing the company's commitment to strong operational performance.