AM Best puts negative outlook on Tower Hill Prime

AM Best has gone negative on Florida homeowners carrier Tower
Hill Prime Insurance Company as it pointed to the impact of weather
losses, adverse development and the assignment of benefits (AOB) on
its underwriting performance.
The ratings agency said it had revised its outlooks from stable
to negative on the insurer's A- financial strength and a-
long-term issuer credit ratings.
With $254mn of annualized written premiums, Tower Hill is the
11th biggest writer of personal and commercial resident