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 world-wide leading source for information on the financial condition and operating performance of insurance companies, on May 5, 2020. This marks the 21st consecutive time Builders Mutual has earned this rating.
According to the A.M. Best Rating Rationale Summary, the rating reflects the strength of Builders Mutual’s balance sheet, which is categorized as “Strongest.” A.M. Best commented on the company’s strong capital position, solid underwriting and operating leverage metrics, and our conservative reserving practices. A.M. Best describes the outlook for Builders Mutual as “Positive” which reflects favorable combined ratios that have outperformed peers on a five and ten year basis.
“A.M. Best rating Builders Mutual as an “A” company is very important to us. It reflects the stability of our company and shows our continued commitment to maintaining sound financial management,” states John Boggs, President and Chief Executive Officer. “This rating reinforces our ability to support our policyholders and agents.”
Headquartered in North Carolina, Builders Mutual is one of the Mid-Atlantic and Southeast’s leading writers of commercial insurance for the construction industry. In 2019, the Company was named to the prestigious Ward's 50 group of top performing companies for its outstanding financial results in the areas of safety, consistency, and performance over a five year period (2014-2018) and is one of the top 50 Workers’ Compensation writers in the U.S. 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 26,000 policyholders through more than 5,000 sales agents and employs more than 370 staff at its Raleigh headquarters.