Demotech Affirms the Financial Stability Rating® Assigned to 1859 Mutual

Columbus, Ohio, January 30, 2024: The Financial Stability Rating® (FSR) of A, Exceptional, assigned to 1859 Mutual has been affirmed by Demotech, Inc. This level of FSR is assigned to insurers who possess exceptional financial stability related to maintaining positive surplus as regards policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves (L&LAE) and realistic pricing.

FSRs summarize Demotech’s opinion of the financial stability of an insurer regardless of general economic conditions or the phase of the underwriting cycle. FSRs utilize statutory financial data based on insurance accounting principles prescribed or permitted by the National Association of Insurance Commissioners (NAIC). Since 1989, FSRs of A or better have been accepted by the major participants in the secondary mortgage marketplace.

About 1859 Mutual

Effective January 1, 2024, Pike Mutual Insurance Company merged into Woodville Mutual, and the entity was renamed 1859 Mutual.  Woodville Mutual originated as the German Farmers Mutual Fire Protective Association in 1859. The German Farmers Mutual Protective Cyclone Association was incorporated in Woodville in 1909. The two associations were consolidated as Woodville Mutual in 1960.

1859 Mutual and select mutual partners have created combination Farmowners and Homeowners Policies which are marketed through Independent Agents. This insurance contract separates the property and liability sections of the combination policy between 1859 Mutual and the selected mutual partner respectfully. 1859 Mutual’s Corporate Goals are: 1) Corporate financial security for the benefit of their Policyholders, and Stakeholders; 2) Growth of Policyholder Surplus; 3) positive underwriting results; 4) Maintenance of a solid, conservative Investment Portfolio.

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 accurate, reliable, and proven 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.

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