AMSF

Research · Apr 23, 2026

AMSF Q1: Premium Growth 5.6% Compounds as Expense Ratio Improves for Third Quarter

AmeriSafe Q1 2026 extended its eighth consecutive quarter of premium growth with gross premiums +5.6%, voluntary premium +8.2%, retention at 92.4%, and expense ratio at 29.7% (third consecutive YoY improvement). Current accident year loss ratio at 72%, prior years had favorable development. Book value per share $13.18. Fundamentals thread confirming; Q2 watch is loss ratio stability and continued expense ratio improvement.