AM Best Reaffirms A- (Excellent) Rating for Tower Hill Prime

FOR IMMEDIATE RELEASE:
GAINESVILLE, FL
NOVEMBER 8, 2018

We are pleased to announce that A.M. Best Company has affirmed the Financial Strength Rating® (FSR) of A- (Excellent) of Tower Hill Prime Insurance Company.

Although the outlook remains negative, which reflects many Florida specific factors such as weather-related events, frequency of water claims and Assignment of Benefits concerns, the Company will show significant profit in 2018, even after a full catastrophe retention related to Hurricane Michael. 

The Company has increased its surplus by almost $32 million since year end 2017, when the Company was first placed on negative watch. Tower Hill Prime Insurance Company has a solid market presence in Florida, has significant catastrophe reinsurance that provides protection well beyond a 200-year event, and is proud of its well-capitalized reinsurance partners.

For further information, please refer to the A.M. Best Company website.