A.M. Best Withdraws Ratings of Philmont Insurance Company
27 April 2016 - 5:27AM
Business Wire
A.M. Best has affirmed the financial strength rating of B
(Fair) and the issuer credit rating of "bb+" of Philmont
Insurance Company (Philmont) (Burlington, VT). The outlook for
each rating is stable.
Concurrently, A.M. Best has withdrawn the ratings in response to
the company’s request to no longer participate in A.M. Best’s
interactive rating process.
The affirmation considers the company's critical role and
favorable profile as part of the Toll Brothers, Inc. (Toll
Brothers) [NYSE:TOL] organization, as well as its strong operating
performance during the past five years, providing insurance
coverage to various projects and subsidiaries of Toll Brothers for
certain liability risks.
A.M. Best remains the leading rating agency of alternative risk
transfer entities, with more than 200 such vehicles rated in the
United States and throughout the world. For current Best’s Credit
Ratings and independent data on the captive and alternative risk
transfer insurance market, please visit www.ambest.com/captive.
This press release relates to rating(s) 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.
A.M. Best is the world’s oldest and most authoritative
insurance rating and information source. For more information,
visit www.ambest.com.
Copyright © 2016 by A.M. Best Rating
Services, Inc. ALL RIGHTS RESERVED.
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version on businesswire.com: http://www.businesswire.com/news/home/20160426006751/en/
Fred Eslami, +1 908-439-2200, ext. 5406Senior
Financial Analystfred.eslami@ambest.comorChristopher
Sharkey, +1 908-439-2200, ext. 5159Manager, Public
Relationschristopher.sharkey@ambest.comorGary A. Davis, +1
908-439-2200, ext. 5665Assistant Vice
Presidentgary.davis@ambest.comorJim Peavy, +1
908-439-2200, ext. 5644Assistant Vice President, Public
Relationsjames.peavy@ambest.com
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