Schedule II. Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2015

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,
	2015		2014
	(in thousands)
Assets
Investments:
Short-term investments	$	—	$	250
Other investments		12,217		11,748
Investment in subsidiaries		408,135		387,954
Total investments		420,352		399,952
Cash and cash equivalents		26,968		43,585
Deferred income taxes		292		1,001
Notes receivable from subsidiaries		1,505		(1)
Property and equipment, net		1,817		2,070
Other assets		3,047		4,992
	$	453,981	$	451,599
Liabilities, redeemable preferred stock and shareholders’ equity
Liabilities:
Accounts payable and other liabilities	$	—	$	3,853
Notes payable to subsidiaries		—		778
Total liabilities		—		4,631
Shareholders’ equity (net of Treasury stock of $22,370 at December 31, 2015 and 2014)		453,981		446,968
	$	453,981	$	451,599

AMERISAFE, INC.

CONDENSED STATEMENTS OF INCOME

	Year Ended December 31,
	2015		2014		2013
	(in thousands)
Revenues
Net investment income	$	854	$	1,541	$	1,051
Fee and other income		5,893		5,368		5,453
Total revenues		6,747		6,909		6,504
Expenses
Other operating costs		6,747		6,909		6,504
Total expenses		6,747		6,909		6,504
Income (loss) before income taxes and equity in earnings of subsidiaries		—		—		—
Income tax expense (benefit)		(57)		(13)		6
Gain (loss) before equity in earnings of subsidiaries		57		13		(6)
Equity in net income of subsidiaries		70,405		53,653		43,643
Net income	$	70,462	$	53,666	$	43,637

AMERISAFE, INC.

CONDENSED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2015		2014		2013
	(in thousands)
Operating activities
Net cash (used in)/provided by operating activities	$	(1,727)	$	2,161	$	1,829
Investing activities
Purchases of investments		—		(1,462)		(10,248)
Proceeds from sales of investments		250		2,404		11,674
Purchases of property and equipment		(627)		(691)		(779)
Dividends from subsidiary		50,000		25,000		15,000
Net cash provided by investing activities		49,623		25,251		15,647
Financing activities
Proceeds from stock option exercises		1,844		2,674		2,344
Tax benefit from share-based payments		2,204		2,841		2,024
Dividends to shareholders		(68,561)		(37,068)		(5,910)
Net cash used in financing activities		(64,513)		(31,553)		(1,542)
Change in cash and cash equivalents		(16,617)		(4,141)		15,934
Cash and cash equivalents at beginning of year		43,585		47,726		31,792
Cash and cash equivalents at end of year	$	26,968	$	43,585	$	47,726