Demotech Affirms the Financial Stability Rating® Assigned to Allstate New Jersey Insurance Company
Columbus, Ohio, September 21, 2012: The Financial Stability Rating® (FSR) of A” (A Double-Prime), Unsurpassed, assigned to Allstate New Jersey Insurance Company has been affirmed by Demotech, Inc. This level of FSR is assigned to insurers who possess unsurpassed 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 Allstate New Jersey Insurance Company
Allstate New Jersey Insurance Company services more than 450,000 households through its Allstate New Jersey, Encompass, Esurance and Answer Financial brand names. Widely known by its slogan “You’re In Good Hands With Allstate®,” Allstate offers insurance products (auto, life and retirement) and services through Allstate New Jersey agencies, independent agencies, and Allstate exclusive financial representatives. As part of Allstate’s commitment to strengthen local communities, The Allstate Foundation, and the corporation provided over $320,000 in 2011 to local nonprofit organizations across New Jersey.
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. FSRs are a leading indicator of financial stability, providing an objective baseline of the future solvency of an insurer. 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. This philosophy was the catalyst for the Demotech Company Classification System, which was published in Insurance Journal, in order to stratify and categorize insurers into operational categories. Visit www.demotech.com for more information.
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