AM Best Downgrades Credit Ratings of
 Prime Insurance Company

AM Best has downgraded Prime Insurance Company’s Financial Strength Rating from A- (Excellent) to B (Fair) and its Long-Term Issuer Credit Rating from “a-” to “bb+.” The ratings remain under review with negative implications.

AM Best cited concerns about the adequacy of Prime’s loss reserves, declining risk-adjusted capitalization and the effectiveness of the company’s enterprise risk management. Prime reported $111 million in adverse reserve development in 2024, $29 million in 2025 and an additional $78 million during the first half of 2026.

AM Best will continue its review following Prime’s third-quarter 2026 statutory financial filings and additional discussions with company management regarding reserves, capital levels and potential mitigation measures.

For more information, please visit:
https://news.ambest.com/NewsContent.aspx?refnum=276798

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