AM Best downgrades ICR of Tower Hill citing ‘surplus erosion’
  • X
  • LinkedIn
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
© 2024 Insider International Limited, company number 15236286, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian Group. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

AM Best downgrades ICR of Tower Hill citing ‘surplus erosion’

AM Best Florida.jpg

AM Best has downgraded the long-term issuer credit rating (ICR) of Floridian insurer Tower Hill Prime Insurance Company to bbb from bbb+, and revised its outlook for the carrier’s financial strength rating (FSR) from negative to stable.

The ratings agency affirmed Tower Hill’s B++ FSR, while the outlook for the insurer’s long-term ICR is negative.

In its note to the market, AM Best said its action reflects the carrier’s “further surplus and ongoing difficulty in organically growing...

Request a free trial:

Uncover exclusive insights tailored for insurance leaders

    • Stay Informed: Access exclusive industry insights
    • Gain a competitive advantage: Hear first about tactical developments
    • Make better decisions: Understand market dynamics in crucial lines of business
Gift this article