Best’s News & Research Service - December 16, 2020 05:30 PM (EST)
AM Best Assigns Credit Ratings to Specialty Builders Insurance Company
- December 16, 2020 05:30 PM (EST)
Oldwick //BestWire// - AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” to Specialty Builders Insurance Company (Specialty Builders) (Atlanta, GA). The outlook assigned to these Credit Ratings (ratings) is stable. Specialty Builders is a newly formed subsidiary of Builders Insurance (A Mutual Captive Company), which is a member of Builders Insurance Group.
The ratings reflect Specialty Builders’ balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).
Specialty Builders is fully owned by Builders Insurance (A Mutual Captive Company), and the parent maintains responsibility for this company. Specialty Builders primarily provides workers’ compensation and general liability insurance with a focus on the construction industry. Specialty Builders leverages the knowledge and expertise of the group’s management in this niche. Builders Insurance (A Mutual Captive Company) provides infrastructure support, integration, common ERM and financial flexibility to Specialty Builders.
The members of the Builders Insurance Group maintain an FSR of A (Excellent) and a Long-Term ICR of “a.” The outlook of these ratings is stable and remains unchanged at this time.
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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
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 New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.