Atlanta, GA – A.M. Best Company, a worldwide insurance-rating and information agency, has revised the outlook to positive from stable and affirmed the financial strength rating of A- “Excellent” for all member companies of Builders Insurance Group. The member companies are comprised of Builders Insurance (A Mutual Captive Company) and its wholly owned subsidiaries: American Builders Insurance Company (formerly known as Association Insurance Company) and National Builders Insurance Company (formerly known as Vinings Insurance Company).
A.M. Best’s rating is assigned after a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance and business profile.
According to A.M. Best, “The ratings action reflects Builders’ strong risk-adjusted capitalization, historically profitable operating performance, generally favorable loss reserve development trends and established market presence providing workers’ compensation and general liability coverage, primarily to the home building industry in Georgia and other states ranging from the Mid-Atlantic to the South, Midwest and West. Additionally, the ratings reflect the group’s prudent risk selection process, effective loss control practices and proactive claims management, which contribute to historically strong business retention. The outlook is based on the group’s strong capitalization and the expectation of organic surplus growth through profitable operations over the near term.”
“The Board and staff are pleased that A.M. Best continues to acknowledge the solid financial foundation of our member companies with a ‘positive’ outlook,” said Patrick Mitchell, President and CEO of Builders Insurance Group. “Our rating is an affirmation of the strategic initiatives developed over recent years and is validation to our agency and policyholder partners of the strength of our business and commitment to them.”