Builders Mutual Receives 24th Consecutive 'A' Rating from A.M. Best
RALEIGH, N.C. (May 17, 2023) – Builders Mutual is thrilled to announce that our Financial Strength Rating of A (Excellent) was once again 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 2, 2023. This marks the 24th consecutive time Builders Mutual has earned this rating.
In A.M. Best’s Rating Rationale Summary, Builders Mutual’s balance sheet was categorized as “Strongest”, highlighting the consistent, organic surplus growth over the last ten years. It also highlighted operating performance as “Strong”, noting significant net premiums in written growth over the last five years across all lines of business. A.M. Best describes the outlook for Builders Mutual as “Stable”, which reflects expectations that the company will maintain a balance sheet strength assessment in the strongest range over the immediate term while continuing to report favorable operating results.
“We are proud to once again receive this important designation from A.M. Best,” said Mike Gerber, President and Chief Executive Officer of Builders Mutual. “Our team works tirelessly to maintain our operating performance and financial strength and this recognition reinforces our ability to continue to support our policyholders and agents.” You can learn more about Builders Mutual here.
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.