Demotech Affirms the Financial Stability Rating® Assigned to Omega One Insurance Company
Columbus, Ohio, December 14, 2021: The Financial Stability Rating® (FSR) of A, Exceptional, assigned to Omega One Insurance Company 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 Omega One Insurance Company
Omega One Insurance Company (Omega) is a wholly owned subsidiary of National Security Fire & Casualty Company; a wholly owned subsidiary of The National Security Group, Inc. and was organized in 1992. Omega is domiciled in Alabama and is licensed to write insurance in Alabama and Louisiana. Currently, Omega has ceased writing personal lines property business which focused on the homeowners’ line of business. Visit www.nationalsecuritygroup.com for additional information.
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. Visit www.demotech.com for more information.
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