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Press release content from Business Wire. The AP news staff was not involved in its creation. AM Best Downgrades Issuer Credit Rating of Tower Hill Prime Insurance Company April 8, 2021 GMT OLDWICK, N.J. (BUSINESS WIRE) Apr 8, 2021 AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb+” and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Tower Hill Prime Insurance Company (Tower Hill Prime) (Gainesville, FL). The outlook of the FSR has been revised to negative from stable, while the outlook of the Long-Term ICR is negative. The Credit Ratings (ratings) reflect Tower Hill Prime’s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management (ERM).

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