AM Best Reaffirms A (EXCELLENT) Credit Rating for Builders Insurance Group

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Jul 29, 2024, 10:04 ET

ATLANTA, July 29, 2024 /PRNewswire/ -- AM Best, the leading provider of ratings, news and financial data for the insurance industry worldwide, has affirmed the group financial strength rating of A (Excellent) with a stable outlook to Builders Insurance Group. All member companies of the Builders Insurance Group rating unit bear an A (Excellent) rating, including multiple admitted companies and a national surplus lines company under their umbrella.

"Builders is profitable, growing, and we're evolving to best serve our constituencies—financially, culturally and geographically," said Todd Campbell, President & CEO of Builders. "Having carefully laid the strategic groundwork for long-term, profitable expansion through innovation, award-winning culture and strong partnerships, we forge ahead with our core values of providing expertise, delivering our service with care and compassion and bringing excellence to every agent, policyholder, partner and claimant experience."

Pivoting to financial soundness, Todd continued, "Yet behind the scenes is our steadfast A rating, a reassurance that our capital is put to good use and a beacon of our financial strength. Our vision is underwritten with discipline, providing the stability to serve injured workers and the communities where we live and work for years to come. We are incredibly proud to have our A rating affirmed, again."

Recent Builders financial highlights include:

Highest-ever gross written premium of $245 million in 2023
2023 year-end surplus of $360 million—an historic milestone
Averaged $28 million of income (before taxes and unrealized gains/losses) for the last eight years
Disciplined premium growth of 38% from 2020 to 2023

For more details on this rating, please read AM Best's complete analysis at http://ratings.ambest.com (registration and login required).

ABOUT BUILDERS

A property and casualty insurance leader, Atlanta-based Builders is the region's reliable expert and workforce advocate serving agents and their clients through deep partnerships, service excellence and financial strength. Over 32 years of market leadership in complex construction risks has fostered exceptional expertise in workers' compensation, injury prevention and best-in-class medical management, driving superior outcomes in any professional industry. Builders and its member companies are rated "A" (Excellent) IX by AM Best. Top Workplaces USA — #InsuranceBuiltStrong.

For more information about Builders, visit bldrs.com or call 678.309.4000.

SOURCE Builders