Builders Mutual A.M. Best Rating Reaffirmed
Raleigh, N.C. – Builders Mutual Insurance Company is pleased to announce that our Financial Strength Rating of A (Excellent) was reaffirmed by A.M. Best Company, the leading source for information on the financial condition and operating performance of insurance companies worldwide, for the 19th consecutive time on April 18, 2018. Additionally, A.M. Best revised Builders Mutual’s outlook from stable to positive for our Long-Term Issuer Credit Rating (Long-Term ICR).
According to A.M. Best, “The ratings reflect Builders Mutual’s balance sheet strength, which A.M. Best categorizes as strongest as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.”
“Builders Mutual continues to demonstrate sound financial management while experiencing steady and profitable growth,” states John Boggs, President and Chief Executive Officer. “The reaffirmed “A” rating from A.M. Best and update of our ICR outlook from stable to positive further demonstrates the stability of Builders Mutual and the commitment we have to our agents and policyholders.
“The strength of our balance sheet, recent underwriting results of our company and our ability to manage during the economic downturn reinforce the financial strength of Builders Mutual,” states Tom Lockard, Vice President/Chief Financial Officer. “Builders Mutual is focused on the longevity of our company and our ability to serve our customers now and in the years to come.”
Headquartered in North Carolina, Builders Mutual is one of the Mid-Atlantic and Southeast’s leading writers of commercial insurance for the construction industry. Since its inception, Builders Mutual has broadened its territory beyond North Carolina to include the District of Columbia, Florida, Georgia, Maryland, Mississippi, South Carolina, Tennessee, and Virginia. The company provides coverage to more than 21,000 policyholders through more than 5,000 sales agents and employs more than 300 staff at its Raleigh headquarters.