ATLANTA, June 1, 2017 – Builders is pleased to announce that the Financial Strength Rating of all member companies has been upgraded to “A” (Excellent) from “A-” (Excellent) by A.M. Best Company, the leading provider of ratings, news and financial data for the insurance industry worldwide. The outlook for these ratings has been revised from positive to stable. The achievement demonstrates Builders’ strong financial position, its history of positive fiscal performance and comes on its 25th anniversary of operations.
According to A.M. Best, “The rating upgrades reflect Builders’ strong risk-adjusted capitalization, profitable operating performance, generally favorable loss reserve development trends and established market presence providing Workers’ Compensation and General Liability coverage.” A.M. Best has also moved Builders to a Financial Size Category of “IX” from a category of “VIII” indicating its policyholder surplus now exceeds $250 million.
“The rating increase means our policyholders can continue to have confidence in Builders’ ability to meet our financial obligations and further establishes their insurer as a market leader,” said Patrick Mitchell, President & CEO of Builders. “We look forward to continued growth with our valued agency partners.”
For more details on this announcement, please read A.M. Best’s press release.
The information presented in this news release is accurate as of June 1, 2017. For the latest rating, visit the Builders profile on A.M. Best’s website at http://www3.ambest.com/ratings/entities/CompanyProfile.aspx?AMBNum=18563&URatingId=&AltSrc=4&PPP=&ExtUser=&ExtMisc=&AltNum=83118563.
More than 18,500 policyholders in residential and light commercial construction as well as a variety of non-construction fields rely on Builders to protect their most important assets – their people and property. Founded in 1992, the company has evolved into a dynamic, financially secure and dedicated partner with a philosophy of providing outstanding products, backed by exceptional customer service and easy-to-use technology solutions. Headquartered in Atlanta, the company delivers innovative Workers’ Compensation, General Liability, Property, Umbrella and Builders Risk insurance through independent agents to customers in 17 states. Builders and all of its member companies are rated “A” (Excellent) IX by A.M. Best Company. For more information, please visit our Web site at www.bldrs.com.