AMERISAFE INC
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 27, 2026
AMSF$19.89+1.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEM ENTS OF CASH FLOWS
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating activities | |||
| Net income | $47,145 | $55,436 | $62,108 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 742 | 1,093 | 1,427 |
| Net amortization of investments | 563 | 1,447 | 3,025 |
| Change in investment related allowance for credit losses | (43) | (66) | (57) |
| Deferred income taxes | 372 | 1,402 | 628 |
| Net realized (gains) losses on investments | (3,034) | 576 | (6,579) |
| Net unrealized gains on equity securities | (3,719) | (9,508) | (1,228) |
| Net realized losses on disposal of assets | — | 209 | 2 |
| Share-based compensation | 2,907 | 2,939 | 1,557 |
| Changes in operating assets and liabilities: | |||
| Premiums receivable, net | (18,238) | (12,056) | (8,485) |
| Accrued interest receivable | 364 | 947 | 154 |
| Deferred policy acquisition costs | (1,934) | (1,176) | (574) |
| Amounts held by others | (2) | — | — |
| Other assets | (135) | 6,688 | (1,033) |
| Reserves for loss and loss adjustment expenses | (37,726) | (22,685) | (22,043) |
| Unearned premiums | 13,577 | 5,341 | 1,609 |
| Reinsurance balances | 9,129 | 11,926 | (3,740) |
| Amounts held for others and policyholder deposits | 147 | (15,692) | 3,093 |
| Federal income taxes recoverable | (908) | (399) | (328) |
| Accounts payable and other liabilities | 1,863 | (2,232) | 306 |
| Net cash provided by operating activities | 11,070 | 24,190 | 29,842 |
| Investing activities | |||
| Purchases of investments held-to-maturity | — | (5,465) | (42,190) |
| Purchases of investments available-for-sale | (43,123) | (48,939) | (45,141) |
| Purchases of equity securities | (254) | — | — |
| Purchases of short-term investments | (23,623) | (56,295) | (46,347) |
| Proceeds from maturities of investments held-to-maturity | 65,020 | 71,066 | 47,151 |
| Proceeds from sales and maturities of investments available-for-sale | 45,371 | 57,194 | 57,153 |
| Proceeds from sales of equity securities | 8,232 | 7,933 | 12,688 |
| Proceeds from sales and maturities of short-term investments | 18,948 | 47,717 | 61,123 |
| Purchases of property and equipment | (2,148) | (840) | (553) |
| Net cash provided by investing activities | 68,423 | 72,371 | 43,884 |
| Financing activities | |||
| Finance lease purchases | (85) | (85) | (91) |
| Share-based compensation related tax withholding | (817) | (554) | (944) |
| Purchase of treasury stock | (12,103) | (5,123) | (2,171) |
| Dividends to shareholders | (48,607) | (85,436) | (93,307) |
| Net cash used in financing activities | (61,612) | (91,198) | (96,513) |
| Change in cash and cash equivalents | 17,881 | 5,363 | (22,787) |
| Cash and cash equivalents at beginning of year | 44,045 | 38,682 | 61,469 |
| Cash and cash equivalents at end of year | $61,926 | $44,045 | $38,682 |
| Supplemental disclosure of cash flow information | |||
| Income taxes paid, net of refunds received | $12,450 | $12,849 | $14,912 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.