Schedule II. Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2016

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Schedule II. Condensed Financial Information of Registrant

Schedule II. Condensed Financial Information of Registrant

AMERISAFE, INC.

CONDENSED BALANCE SHEETS

	December 31,
	2016		2015
	(in thousands)
Assets
Investments:
Short-term investments	$	11,939	$	—
Other investments		13,330		12,217
Investment in subsidiaries		415,767		408,135
Total investments		441,036		420,352
Cash and cash equivalents		9,596		26,968
Deferred income taxes		675		292
Notes receivable from subsidiaries		1,587		1,505
Property and equipment, net		1,942		1,817
Other assets		1,314		3,047
	$	456,150	$	453,981
Liabilities, redeemable preferred stock and shareholders’ equity
Total liabilities		—		—
Shareholders' equity (net of Treasury stock of $22,370 at December 31, 2016 and 2015		456,150		453,981
	$	456,150	$	453,981

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

AMERISAFE, INC.

CONDENSED STATEMENTS OF INCOME

	Year Ended December 31,
	2016			2015			2014
	(in thousands)
Revenues
Net investment income	$	1,509		$	854		$	1,541
Fee and other income		5,843			5,893			5,368
Total revenues		7,352			6,747			6,909
Expenses
Other operating costs		7,352			6,747			6,909
Total expenses		7,352			6,747			6,909
Income (loss) before income taxes and equity in earnings of subsidiaries		—			—			—
Income tax expense (benefit)		(156	)		(57	)		(13	)
Gain (loss) before equity in earnings of subsidiaries		156			57			13
Equity in net income of subsidiaries		77,709			70,405			53,653
Net income	$	77,865		$	70,462		$	53,666

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

AMERISAFE, INC.

CONDENSED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2016			2015			2014
	(in thousands)
Operating activities
Net cash (used in) provided by operating activities	$	2,771		$	(1,727	)	$	2,161
Investing activities
Purchases of investments		(11,940	)		—			(1,462	)
Proceeds from sales of investments		—			250			2,404
Purchases of property and equipment		(924	)		(627	)		(691	)
Dividends from subsidiary		67,000			50,000			25,000
Net cash provided by investing activities		54,136			49,623			25,251
Financing activities
Proceeds from stock option exercises		837			1,844			2,674
Tax benefit from share-based payments		995			2,204			2,841
Dividends to shareholders		(76,111	)		(68,561	)		(37,068	)
Net cash used in financing activities		(74,279	)		(64,513	)		(31,553	)
Change in cash and cash equivalents		(17,372	)		(16,617	)		(4,141	)
Cash and cash equivalents at beginning of year		26,968			43,585			47,726
Cash and cash equivalents at end of year	$	9,596		$	26,968		$	43,585