Schedule II. Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2013

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,
	2013		2012
	(In thousands)
Assets
Investments:
Short-term investments	$	248	$	11,161
Fixed-maturity securities—held to maturity, at amortized cost		—		678
Fixed-maturity securities—available-for-sale, at fair value		965		1,018
Other investments		10,591		—
Investment in subsidiaries		352,193		330,825
Total investments		363,997		343,682
Cash and cash equivalents		47,726		31,792
Deferred income taxes		1,383		1,312
Notes receivable from subsidiaries		1,805		1,235
Property and equipment, net		2,181		2,214
Other assets		556		987
	$	417,648	$	381,222
Liabilities, redeemable preferred stock and shareholders’ equity
Liabilities:
Accounts payable and other liabilities	$	834	$	—
Total liabilities		834		—
Shareholders’ equity (net of Treasury stock of $22,370 at December 31, 2013 and 2012)		416,814		381,222
	$	417,648	$	381,222

AMERISAFE, INC.

CONDENSED STATEMENTS OF INCOME

	Year Ended December 31,
	2013		2012		2011
	(In thousands)
Revenues
Net investment income	$	1,051	$	571	$	478
Fee and other income		5,453		4,765		9,710
Total revenues		6,504		5,336		10,188
Expenses
Other operating costs		6,504		4,770		4,827
Interest expense		—		566		1,311
Total expenses		6,504		5,336		6,138
Income (loss) before income taxes and equity in earnings of subsidiaries		—		—		4,050
Income tax expense (benefit)		6		(9)		1,213
Gain (loss) before equity in earnings of subsidiaries		(6)		9		2,837
Equity in net income of subsidiaries		43,643		29,344		21,344
Net income	$	43,637	$	29,353	$	24,181

AMERISAFE, INC.

CONDENSED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2013		2012		2011
	(In thousands)
Operating activities
Net cash (used in) provided by operating activities	$	1,829	$	5,149	$	(3,646)
Investing activities
Purchases of investments		(10,248)		(23,361)		(57,148)
Proceeds from sales of investments		11,674		39,537		40,990
Purchases of property and equipment		(779)		(842)		(943)
Dividends from subsidiary		15,000		21,000		32,000
Net cash provided by investing activities		15,647		36,334		14,899
Financing activities
Proceeds from stock option exercise		2,344		781		3,339
Tax benefit from share-based payments		2,024		421		1,043
Redemption of Subordinated Debt Security		—		(25,780)		(10,310)
Purchase of treasury stock		—		—		(10,268)
Dividends to shareholders		(5,910)		—		—
Net cash used in financing activities		(1,542)		(24,578)		(16,196)
Change in cash and cash equivalents		15,934		16,905		(4,943)
Cash and cash equivalents at beginning of year		31,792		14,887		19,830
Cash and cash equivalents at end of year	$	47,726	$	31,792	$	14,887