Builders Insurance Group Maintains Strong A Rating Amid Growth
Builders Insurance Group Achieves A (Excellent) Rating
AM Best, a notable authority on insurance ratings, has reaffirmed its Financial Strength Rating of A (Excellent) with a stable outlook for Builders Insurance Group. This recognition extends to all member companies connected to the group, showcasing their reliability in the insurance sector.
The reaffirmation signifies Builders' remarkable performance, which is propelled by its effective strategies and operational excellence.
CEO's Insights on the Rating
“This A rating is more than a designation; it embodies the robust foundation we have cultivated and the strategic vision we look to implement going forward,” stated Todd Campbell, the President & CEO of Builders Insurance Group. He highlighted the company's commitment to investing in talent and technology, fostering growth, and creating a culture marked by care and excellence. Campbell emphasized that both their core offerings and specialty portfolio are designed to deliver value to partners and enhance communities.
Strong Performance Metrics
As Builders Insurance Group progresses into the latter half of the decade, they do so with impressive momentum characterized by several key achievements:
- A record gross written premium of $269.7 million, reflecting a 10.1% increase over previous years.
- A historical surplus amounting to $383.1 million.
- Core new written premium exceeding $47 million last year, a significant milestone.
- The Specialty Division has seen significant transactions that diversify their offerings, enhance income, and reduce the combined ratio.
- Issuance of 28 consecutive dividends to qualifying policyholders as of the previous year.
- Strong loss ratios with nearly two decades of solid workers' compensation accident statistics.
Strategic Financial Management
“The affirmation from AM Best highlights the deliberate financial management practices that underlie our growth,” Campbell added. “We have maintained record-setting results while making prudent investments, ensuring our capital remains robust and well-positioned for future endeavors.”
About Builders Insurance Group
Builders is recognized as a regional leader in workers' compensation and commercial insurance, having earned the trust of agents and businesses for over 30 years. By merging financial robustness with industry knowledge and a commitment to care, Builders focuses on delivering exceptional results in injury prevention, claims management, and long-term risk solutions. It proudly holds an A (Excellent) rating from AM Best and has been acknowledged as a Great Place To Work and one of the Best Places to Work in Insurance.
For additional details, builders can contact the company through their official website or reach out directly at their business phone number.
Frequently Asked Questions
What does the A (Excellent) rating by AM Best signify?
The A (Excellent) rating indicates that Builders Insurance Group has demonstrated strong financial stability and reliability in meeting its ongoing insurance obligations.
How has Builders Insurance Group shown growth recently?
The company recorded $269.7 million in gross written premiums, a significant increase from previous years, along with maintaining a solid surplus and consistent dividends.
What strategy does Builders focus on for its success?
Builders emphasizes placing importance on investments in technology and personnel, focusing on innovative growth, and upholding a culture of care and excellence.
How long has Builders been in the insurance industry?
Builders Insurance Group has over 30 years of experience in the insurance industry, establishing itself as a trusted provider in the Southeast and beyond.
Where can one find more information about Builders Insurance Group?
Additional information can be found on Builders' official website.
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