Demotech, Inc. Withdraws Financial Stability Rating® Assigned to Southern Fidelity Insurance Company
Columbus, Ohio, June 3, 2022: Southern Fidelity Insurance Company advised its agents that it had suspended new and renewal business for all lines while it attempted to complete its reinsurance coverage for the 2022 hurricane season. After completing our review of first quarter 2022 financial statements and considering that the Company’s reinsurance coverage for the 2022 hurricane season is not complete as of June 2, 2022, Demotech has withdrawn the Financial Stability Rating® previously assigned to Southern Fidelity Insurance Company.
About Demotech, Inc.
Demotech, Inc. was the first firm to review independent, regional and specialty insurers, 1989. More recently, we were the first to call for a special session on Florida’s property insurance marketplace. Since 1985, Demotech has served the industry by assigning accurate, reliable, and proven Financial Stability Ratings® to 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. Visit www.demotech.com for additional information.
About Southern Fidelity Insurance Company
Since being founded in 2005, Southern Fidelity Insurance Company has provided independent agents throughout Florida, South Carolina, Louisiana, and Mississippi a line of competitive products and services in order to meet the needs of their customers.