AM Best Assigns Credit Ratings to Apex Insurance Inc.

Business Wire

2 days ago

BUSINESS WIRE)-- AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of 'a-' (Excellent) to Apex Insurance Inc. (Apex) (Burlington, VT). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect Apex's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
Apex Insurance Inc. covers general liability exposures in North America, including coverages for professional liability, physical and sexual misconduct, and personal and advertising injury, for its parent, Bright Horizons Family Solutions Inc. and its subsidiaries and affiliated companies (Bright Horizons). Bright Horizons is a leading global provider of high-quality early education and child care, backup care and workforce education services, serving more than 1,450 of the world's leading employers.
The ratings reflect AM Best's expectations that Apex will execute its projected business strategy and will continue to benefit from the implicit and explicit support of Bright Horizons given Apex's level of integration within the enterprise and its strategic importance to the organization as an effective alternative risk transfer vehicle.
AM 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 Credit Ratings that have been published on AM 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 AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.