* Q3 EPS $0.65 beats estimate of $0.54
* Q3 total expenses fell 20 pct to $57.2 mln
* Adjusts 2008 combined ratio outlook
Nov 6 (Reuters) - Insurer Amerisafe Inc reported a 13 percent rise in quarterly profit topping Wall Street estimates, helped by a decline in expenses.
The workers' compensation insurance provider reported a third-quarter profit of $13.4 million.
The company forecast a combined ratio of 84 percent to 87 percent for 2008, compared with its prior view of 94 percent or lower. Combined ratio is the percentage of premiums an insurer has to pay out in claims and expenses, and a lower number means the insurer makes more money.
Amerisafe's combined ratio for the quarter was 79.4 percent, down from 89.2 percent a year ago.
Net premium earned fell more than 10 percent to $71.3 million.
Shares of the company closed at $15.16 Thursday on Nasdaq.
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(Reporting by Adheesha Sarkar in Bangalore; Editing by Deepak Kannan) Keywords: AMERISAFE/ (adheesha.sarkar@reuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: adheesha.sarkar.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Q3 total expenses fell 20 pct to $57.2 mln
* Adjusts 2008 combined ratio outlook
Nov 6 (Reuters) - Insurer Amerisafe Inc reported a 13 percent rise in quarterly profit topping Wall Street estimates, helped by a decline in expenses.
The workers' compensation insurance provider reported a third-quarter profit of $13.4 million.
The company forecast a combined ratio of 84 percent to 87 percent for 2008, compared with its prior view of 94 percent or lower. Combined ratio is the percentage of premiums an insurer has to pay out in claims and expenses, and a lower number means the insurer makes more money.
Amerisafe's combined ratio for the quarter was 79.4 percent, down from 89.2 percent a year ago.
Net premium earned fell more than 10 percent to $71.3 million.
Shares of the company closed at $15.16 Thursday on Nasdaq.
For the press release, please double click
For the alerts, please double click
(Reporting by Adheesha Sarkar in Bangalore; Editing by Deepak Kannan) Keywords: AMERISAFE/ (adheesha.sarkar@reuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: adheesha.sarkar.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.