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A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and issuer credit ratings (ICR) of “a” of
American Interstate Insurance Company,
Silver Oak Casualty, Inc. and
American Interstate Insurance Company of Texas (Austin, TX) (collectively referred to as Amerisafe), all property/casualty subsidiaries of
AMERISAFE, Inc. [NASDAQ: AMSF]. Concurrently, A.M. Best has affirmed the ICR of “bbb” of AMERISAFE, Inc. The outlook for all ratings is stable. All companies are headquartered in DeRidder, LA, unless otherwise specified.
These rating actions reflect Amerisafe’s excellent capitalization, strong operating profitability (which has outperformed its peer composite over the long term) and its established market presence and experience operating in the workers’ compensation market for high hazard risks. Amerisafe’s sound operating performance has been driven by its solid underwriting results, which are derived from management’s adherence to prudent practices and pricing discipline, focused loss control and safety programs and active claims management, which have resulted in favorable calendar year reserve development trends over the current five-year period.