AM Best Maintains Under Review With Developing Implications Status for PrimeOne Insurance Company
- August 20, 2026 02:03 PM (EDT)
//BestWire// - AM Best has maintained the under review with developing implications status for the Financial Strength Rating of B- (Fair) and the Long-Term Issuer Credit Rating of “bb-” (Fair) of PrimeOne Insurance Company (PrimeOne) (Scottsdale, AZ).
The ratings reflect PrimeOne’s balance sheet strength, which AM Best assesses as adequate, as well as its marginal operating performance, limited business profile and marginal enterprise risk management. Gryphon Holdings LLC announced on Jan. 15, 2025, that it has entered into a definitive agreement to acquire PrimeOne, as part of its disciplined growth strategy. The acquisition of PrimeOne Insurance Group is taking longer to complete than initially expected; however, the transaction is anticipated to close before year end. The ratings will remain under review with developing implications until AM Best’s analytical team gets more clarity from the management team to discuss the future direction of PrimeOne. PrimeOne is a wholly owned subsidiary of PrimeOne Insurance Group.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings (BCR), Best’s Performance Assessments (PA), Best’s Preliminary Credit Assessments (PCA) and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.