A.M. Best has assigned a financial strength rating of A (Excellent) and a long-term issuer credit rating of “a” to Specialty Builders Insurance Company (Specialty Builders), based in Atlanta, Georgia.
The outlook assigned to these credit ratings is stable.
Specialty Builders is a newly formed subsidiary of Builders Insurance, a mutual captive company, which is a member of Builders Insurance Group.
The ratings reflect Specialty Builders’ balance sheet strength, which A.M. Best categorised as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).
Specialty Builders is fully-owned by Builders Insurance, and the parent maintains responsibility for this company.
The captive primarily provides workers’ compensation and general liability insurance with a focus on the construction industry.
Specialty Builders leverages the knowledge and expertise of the group’s management in this niche. Builders Insurance provides infrastructure support, integration, common ERM and financial flexibility to Specialty Builders.
The members of the Builders Insurance Group maintain a financial strength rating of A (Excellent) and a long-term ICR of “a”. The outlook of these ratings is stable and remains unchanged at this time, according to A.M. Best.
