A.M. Best Affirms PURE’s Financial Strength Rating Of “A-” Excellent

WHITE PLAINS, NY - Jan. 5, 2010 - A.M. Best Company (A.M. Best) has affirmed the Financial Strength Rating (FSR) of "A-" (Excellent) and the Issuer Credit Rating (ICR) of "A-" (Excellent) for Privilege Underwriters Reciprocal Exchange (PURE) and the PURE Group of Insurance Companies. PURE, a member-owned reciprocal insurer, provides customized property and casualty insurance for well-built, high-value homes, as well as automobile, jewelry, art, personal liability and watercraft insurance to qualified successful individuals and families.

"We are very proud of A.M. Best's continued positive assessment of PURE's financial strength, and we are confident our members will appreciate the significance of these prestigious ratings and enjoy the peace of mind of knowing they're well-protected by PURE," said Ross Buchmueller, president and chief executive officer of PURE Risk Management LLC.

In its 2009 report, A.M. Best cites PURE's positive rating factors, including the PURE Group's "strong risk-adjusted capitalization" and "very modest operating leverage measures" along with the "growing impact of surplus contributions from PURE subscribers." In addition to their annual premiums, PURE members make contributions to the surplus capital of the insurer. These contributions provide an important and steady source of capital to support PURE's growth.

A.M. Best also notes that "PURE has maintained adequate reinsurance protection, using a combination of quota share, excess of loss, and catastrophe reinsurance programs to protect its surplus from catastrophe events." Additionally, the group's management has "extensive experience, with favorable operating results associated with starting and managing similar niche books of business with other carriers." Mr. Buchmueller founded AIG Private Client Group in 1999 and served as its president until 2006 when he and his partners established PURE.

PURE, which began writing policies in 2007, currently serves more than 5,000 members in Connecticut, Florida, South Carolina, New York and New Jersey. PURE has also recently obtained licenses in Alabama, Georgia, Maryland, Rhode Island, Texas and Washington, D.C., as part of its ongoing nationwide expansion.

About PURE

PURE refers to Privilege Underwriters Reciprocal Exchange, a member insurer of the PURE Group of Insurance Companies. Licensed in 11 states, PURE provides coverage for high-valued homes, automobiles, jewelry, art, personal liability and watercraft to successful individuals and families. PURE is a member-owned reciprocal insurer and is rated A- (Excellent) by A.M. Best. PURE is committed to helping its members reduce the price of insurance today while controlling the long-term cost of risk. PURE Risk Management LLC serves as the attorney-in-fact for PURE. For more information, visit www.pureinsurance.com.

About A.M. Best Company

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.

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Editor's Notes:
Interviews with PURE's executives, agents and members may be coordinated

Copies of the A.M Best report are available upon request

Annual premium savings based on all members who reported prior carrier premium.

This material is descriptive only. The precise coverage offered is subject to the terms and conditions of the policies issued. The rights and responsibilities of members are subject to the Subscriber's Agreement and Power of Attorney. Coverage may not be available in all jurisdictions. Actual savings, if any, will vary.