New Horizon Insurance Company Upgraded by AM Best to A- (Excellent) Financial Strength Rating and "a-" (Excellent) Long-Term Issuer Credit Rating

AM Best has upgraded New Horizon Insurance Company's Financial Strength Rating to A- (Excellent) from B++ (Good) and Long-Term Issuer Credit Rating to "a-" (Excellent) from "bbb+" (Good). The upgrade reflects the company's strong and consistent operating performance, very strong balance sheet, limited business profile, and appropriate ERM. New Horizon has achieved favorable net income, pre-tax and total return on revenue, and return on equity metrics, resulting in five-year averages that compare favorably with peer averages.