A.M. Best has affirmed the financial strength rating of A (Excellent) and the issuer credit ratings (ICR) of “a” of DeRidder-based AMERISAFE Inc. and its property/casualty subsidiaries. The outlook for the ratings is stable. According to the news release from Best, “These rating actions reflect Amerisafe’s sound level of risk-adjusted capitalization, consistently profitable operating performance and its established position and experience in the workers’ compensation market for high hazard risks. Driven by solid underwriting results, Amerisafe produces operating results that continue to outperform its peer composite average over the long term. Management’s adherence to prudent underwriting practices and pricing discipline, consistent reserving practices that have resulted in favorable calendar-year loss reserve development trends, focused loss control and safety programs and active claims management are the basis for the favorable underwriting results.”
Read full details from A.M. Best here.