Schedule II. Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2017

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,
	2017		2016
	(in thousands)
Assets
Investments:
Equity securities—available-for-sale	$	9,248	$	—
Short-term investments		7,962		11,939
Other investments		—		13,330
Investment in subsidiaries		386,844		415,767
Total investments		404,054		441,036
Cash and cash equivalents		16,351		9,596
Deferred income taxes		302		675
Notes receivable from subsidiaries		1,711		1,587
Property and equipment, net		1,359		1,942
Federal income tax recoverable		3,525		3,091
Other assets		887		657
	$	428,189	$	458,584
Liabilities, redeemable preferred stock and shareholders’ equity
Total liabilities		2,766		2,434
Shareholders' equity (net of Treasury stock of $22,370 at December 31, 2017 and 2016)		425,423		456,150
	$	428,189	$	458,584

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

AMERISAFE, INC.

CONDENSED STATEMENTS OF INCOME

	Year Ended December 31,
	2017			2016			2015
	(in thousands)
Revenues
Net investment income	$	679		$	1,509		$	854
Fee and other income		6,890			5,843			5,893
Total revenues		7,569			7,352			6,747
Expenses
Other operating costs		7,569			7,352			6,747
Total expenses		7,569			7,352			6,747
Income (loss) before income taxes and equity in earnings of subsidiaries		—			—			—
Income tax expense (benefit)		125			(156	)		(57	)
Gain (loss) before equity in earnings of subsidiaries		(125	)		156			57
Equity in net income of subsidiaries		46,356			77,709			70,405
Net income	$	46,231		$	77,865		$	70,462

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

AMERISAFE, INC.

CONDENSED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2017			2016			2015
	(in thousands)
Operating activities
Net cash (used in) provided by operating activities	$	15,138		$	2,771		$	(1,727	)
Investing activities
Purchases of investments		(37,361	)		(11,940	)		—
Proceeds from sales of investments		33,000			—			250
Purchases of property and equipment		(277	)		(924	)		(627	)
Dividends from subsidiary		78,900			67,000			50,000
Net cash provided by investing activities		74,262			54,136			49,623
Financing activities
Proceeds from stock option exercises		—			837			1,844
Tax benefit from share-based payments		—			995			2,204
Dividends to shareholders		(82,645	)		(76,111	)		(68,561	)
Net cash used in financing activities		(82,645	)		(74,279	)		(64,513	)
Change in cash and cash equivalents		6,755			(17,372	)		(16,617	)
Cash and cash equivalents at beginning of year		9,596			26,968			43,585
Cash and cash equivalents at end of year	$	16,351		$	9,596		$	26,968