Demotech, Inc. Assigns Financial Stability Ratings® to Grange Insurance Association Carriers

Demotech, Inc. has evaluated the historical financial statements of Grange Insurance Association and its subsidiary, Granwest Property and Casualty Insurance Company, in conjunction with non-public information pertinent to the assignment of Financial Stability Ratings® (FSRs).  An FSR of A, Exceptional, was assigned to each carrier, effective August 31, 2023.    

Since its formation in 1894, Grange Insurance Association has focused on serving insureds involved in farming, residential, urban, and rural customers.  They now serve California, Colorado, Idaho, Oregon, Washington, and Wyoming, utilizing licensed agents who live and work in the communities they serve.

The FSRs assigned reflect, among other criteria, significant balance sheet strength.  Similarly, the respective balance sheets are protected through the utilization of appropriate reinsurance. The carriers utilize business models that can respond to current economic conditions, particularly in Washington and California. 

Although the Companies’ exposure to wildfire risk has been reduced over the past several years, corrective actions are focused on improving underwriting results. Efforts to date include rate increases, revisions to underwriting criteria, and a better-defined emphasis on niche segments.

Exposure to natural disasters has been adequately addressed through the purchase of catastrophe reinsurance. For the Companies, as well as the entire Property and Casualty insurance industry, accelerating reinsurance costs have impacted operating results.

About Demotech, Inc.

Demotech, Inc. is a financial analysis firm specializing in evaluating the financial stability of regional and specialty insurers. Since 1985, Demotech has served the insurance industry by assigning independent and objective Financial Stability Ratings® (FSRs) for Property & Casualty insurers and Title underwriters. Demotech’s philosophy is to review and evaluate insurers based on their area of focus and execution of their business model rather than solely on financial size. Demotech was the first to review and rate independent regional and specialty insurers. Demotech’s consistently increasing list of accreditations and acceptances has resulted in rating and reviewing more than 450 insurers operating in the US. As of 7/11/2022, Demotech, Inc. is registered with the U.S. Securities and Exchange Commission (SEC) as a nationally recognized statistical rating organization (NRSRO) in the class of ratings for insurance companies. Visit for additional information.