Oct. 23, 2009 (Business Wire) -- A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of Prism Assurance, Ltd. (Prism) (Burlington, VT). The outlook for both ratings is stable.

The ratings reflect Prism’s strong capitalization and improved operating performance in recent years. The ratings also consider Prism’s strategic role as the captive insurance company of Apogee Enterprises, Inc. (Apogee) (Minnesota) and the substantial financial flexibility available to Prism as part of Apogee.

A.M. Best remains the leading rating agency of captive insurers rating a wide variety of more than 200 captives in the United States and throughout the world.

For current Best’s Ratings and independent data on the captive and alternative insurance market, please visit www.ambest.com/captive.

The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at www.ambest.com/ratings/methodology.

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.