A message from PURE Insurance:
We are delighted that AM Best, one of the insurance industry’s leading rating agencies, has just affirmed PURE’s A+ (“Superior”) 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.
In conjunction with the press release regarding PURE’s rating, there was reference to PURE Insurance Company (PIC) being downgraded to A-. Be assured this announcement has zero impact on the membership of PURE. Policies were never written directly on PIC’s balance sheet. PIC was solely used for capital support of PURE prior to Tokio Marine’s involvement. With Tokio Marine’s $35 billion in net assets and explicit support of PURE, we are in the process of unwinding PIC as an unnecessary component of our ongoing capital structure. As stated by AM Best in the press release, “The rating actions on PIC have no impact on AM Best’s view of PURE’s financial strength, as evidenced by the rating affirmations of PURE.”