A.M. Best Affirms Credit Ratings of Prism Assurance, Ltd.
The ratings reflect Prism’s balance sheet strength, which
Additionally, the ratings support Prism’s strategic role as a captive insurance company of Apogee Enterprises, Inc. (Apogee), and the parental support and financial flexibility available to Prism as a part of Apogee. Prism further benefits from its low overhead cost structure and extensive loss control programs, which have decreased claims frequency and severity across Apogee business units.
An offsetting rating factor is Prism’s degree of dependence on Apogee as a captive insurer, which results in a concentrated focus on products and geographic distribution. Despite this, Prism’s ratings are supported by its balance sheet strength and consistent operating performance.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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