Rider Insurance Company Receives A- “Excellent” Rating from AM Best
WOODBRIDGE, N.J.: Plymouth Rock Assurance has announced that AM Best, the oldest and most authoritative insurance rating and information source in the world, assigned an A- (Excellent) Financial Strength Rating and an “a-” Long-Term Issuer Credit Rating to Rider Insurance Company, a Plymouth Rock company.
The ratings reflect a significant strengthening of Rider’s balance sheet, which AM Best categorizes as very strong, as well as its operating performance, limited business profile and appropriate enterprise risk management.
The rating assignments follow the October 2019 acquisition of Rider by Palisades Safety and Insurance Association, which is part of the Plymouth Rock Group of Companies, and the execution of a quota share reinsurance agreement between the two entities.
“We are very pleased to have received an excellent rating from AM Best,” said Gerry Wilson, President and Chief Executive Officer of the Plymouth Rock Management Company of New Jersey. “This rating affirms and makes clear how seamlessly we integrated Rider into the Plymouth Rock Group, and is a testament to the operational strength and financial stability of our organization. Our current and prospective Rider customers should feel secure that the financial strength of their company is stronger than ever.”
Rider is the largest motorcycle insurance provider in New Jersey, and is rapidly growing in Pennsylvania. It is the only carrier serving the motorcycle community exclusively.
