Builders Mutual A.M. Best ‘A’ 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, 2022. This marks the 23rd 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, robust distribution channels, significant management experience, and conservative reserving practices. A.M. Best describes the outlook for Builders Mutual as “Stable” which reflects favorable expectations that the company will maintain a balance sheet strength assessment in the strongest range over the immediate term and will continue to report favorable operating results.
“A.M. Best rating Builders Mutual as an “A” company remains important to us. It reflects the strength of our company and reinforces our capacity to support our policyholders and agents,” states Mike Gerber, President and Chief Executive Officer.
About Builders Mutual: 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 28,000 policyholders through more than 5,000 sales agents and employs more than 400 staff at its Raleigh headquarters.