AMERISAFE continues to see rising voluntary premiums and solid customer retention, but weakening free cash flow and product concentration pose risks. In the first quarter of 2026, gross premiums written increased 5.6% year over year to $88.5 million, while net premiums earned rose 9%, marking the eighth straight quarter of premium growth. The company's policy renewal retention rate stood at 92.4%, and new and renewal voluntary premiums grew 8.2%. However, free cash flow fell 61.8% in 2025 and dropped another 51.8% in the first quarter of 2026. AMERISAFE carries a Zacks Rank #3, and the consensus estimate for 2026 earnings is $2.08 per share on revenues of $333.8 million.
AMERISAFE IncPremium growth and retention are positive, but free cash flow decline and product concentration pose risks, creating mixed signals.
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