When C. Allen Bradley Jr. joined Amerisafe Inc. in 1994, he brought with him a strong legal background, an attention to detail and an understanding of the intricacies of insurance regulation and claims.
In other words, he was prepared for the challenge of managing the company’s contrarian business model, which involves taking on accounts that its competitors avoid. So when Amerisafe hit a period of crisis a few years later, it was Bradley who rose quickly through the management ranks to lead the company’s survival.
In 2001, Amerisafe became embroiled in a major lawsuit with reinsurers and its principal rating agency. The suit make-or-break for the company, and as CEO, Bradley oversaw Amerisafe’s re-entrenchment strategy, which included difficult and complex changes such as a reduction in the work force, withdrawal from unprofitable markets and a rewrite of the company’s book of business.
In addition, Bradley recognized that taking Amerisafe public was critical to keeping the company on track for long-term growth. So while leading his team through the process of re-entrenchment, he also had to keep the company at an A- Best rating to support a successful initial public offering. By executing the offering successfully, Amerisafe became a public company in 2005.
Bradley’s leadership in launching the company in a new direction positioned Amerisafe for increased capital and resources, improved technology and a reputable distribution network. Since restoring Amerisafe to profitability, he’s continued to look for opportunities to expand, emphasizing the application of technology to support its strategy of risk differentiation.
As a result, Amerisafe has achieved significant growth, becoming the leading monoline workers’ compensation carrier in the U.S. In 2009 and 2010, Amerisafe was ranked as one of the top 50 performing property and casualty insurance companies in the country by Ward’s Financial.
How to reach: Amerisafe Inc., (337) 463-9052 or www.amerisafe.com