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.
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SOURCE Builders