DERIDDER, La., April 1, 2013 (GLOBE NEWSWIRE) -- AMERISAFE, Inc. (Nasdaq:AMSF) a specialty provider of hazardous workers' compensation insurance, today announced that G. Janelle Frost, currently the Company's Chief Financial Officer, has been promoted to Chief Operating Officer, effective May 15, 2013. Ms. Frost joined AMERISAFE in 1992, and has been CFO since November 2008.
The Company also announced that Michael Grasher will become Chief Financial Officer. Mr. Grasher is currently SVP, Capital Markets and Investor Relations of Fortegra Financial Corporation, a NYSE listed insurance services company. Mr. Grasher is expected to join the Company in May 2013.
In addition, the Company announced that Geoff Banta, currently AMERISAFE's President and COO, has advised the Company that he intends to retire in December 2014. Mr. Banta joined the Company in 2003, and served as CFO during the Company's initial public offering in 2005 as well as the Company's secondary offering in 2006.
C. Allen Bradley, AMERISAFE's Chairman and Chief Executive Officer, commented: "First, I would like to thank Geoff Banta for his many contributions to the success of AMERISAFE, and his willingness to continue to serve as President as Janelle Frost transitions to the role of COO. Janelle has done a remarkable job leading our finance functions as CFO, as well as serving as a key member of our executive management team. I look forward to continuing to work closely with Janelle in her new role. Finally, I am very pleased that Mike Grasher has accepted our offer to join AMERISAFE as CFO. We have known Mike since 2006, when he was senior insurance research analyst with Piper Jaffray. On behalf of the Board, we welcome Mike to AMERISAFE."
AMERISAFE, Inc. is a specialty provider of workers' compensation insurance focused on small to mid-sized employers engaged in hazardous industries, principally construction, trucking, manufacturing and agriculture. AMERISAFE actively markets workers' compensation insurance in 30 states and the District of Columbia.
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Source: AMERISAFE, Inc.