May 6, 2022
We are delighted that AM Best, one of the insurance industry’s leading rating agencies, has just affirmed PURE’s A+ rating. This rating is a positive reflection of PURE’s balance sheet, operating performance and enterprise risk management, as well as the explicit support provided by Tokio Marine Holdings, Inc.
Along with this announcement comes the expected downgrade of sunsetting entity PURE Insurance Company (PIC). AM Best’s view of PIC’s balance sheet strength remains “very strong,” but took the negative rating action because PIC is no longer an active business following the termination of its pooling agreement with PURE earlier this year. As such, PIC’s rating change has no impact on PURE or the PURE membership.