AM Best Revises Outlooks to Negative for Apex Insurance Risk Retention Group Inc.

OCTOBER 12, 2026 11:33 AM (EDT)

AM Best Revises Outlooks to Negative for Apex Insurance Risk Retention Group Inc.

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FOR IMMEDIATE RELEASE

OLDWICK - OCTOBER 12, 2026 11:33 AM (EDT)
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Apex Insurance Risk Retention Group Inc. (Apex) (Burlington, VT).

The Credit Ratings (ratings) reflect Apex's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

The negative outlooks reflect the volatility and deterioration in APEX's operating performance in 2025 and the first half of 2026, resulting in performances measures that are beginning to fall below the levels expected of its "adequate" assessment level. Earnings volatility is another concern.

Despite these concerns, AM Best expects Apex's balance sheet strength assessment to remain at the very strong level and business prospects continue to be favorable as it relates to the company's role as an insurer, its strategic importance to Bright Horizons Family Solutions Inc. (Bright Horizons) and the financial flexibility afforded to it. AM Best's expects that Apex will execute its future business strategy and will continue to benefit from the implicit and explicit support of Bright Horizons given Apex's level of integration within the enterprise and its strategic importance to the organization as an effective alternative risk transfer vehicle.

Apex covers general liability exposures in North America, including coverages for professional liability, physical and sexual misconduct, and personal and advertising injury, for its parent, Bright Horizons and its subsidiaries and affiliated companies. Bright Horizons is a leading global provider of high-quality early education and childcare, back-up care, and workforce education services, serving more than 1,450 of the world's leading employers.

This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings (BCR), Best's Performance Assessments (PA), Best's Preliminary Credit Assessments (PCA) and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.