Demotech Assigns Financial Stability Rating® to Cooperativa De Seguros Multiples De Puerto Rico

Columbus, Ohio, July 18, 2022: Cooperativa De Seguros Multiples De Puerto Rico has earned a Financial Stability Rating® (FSR) of A, Exceptional, from 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 Cooperativa De Seguros Multiples De Puerto Rico

Cooperativa de Seguros Múltiples (CSM) is a property and casualty insurance organization licensed in 1963, under the provisions of Chapter 34 of the Commonwealth of Puerto Rico’s Insurance Code. It is the principal subsidiary of Grupo Cooperativo Seguros Múltiples (GCSM), a cooperative organization authorized under Puerto Rico’s General Law for Insurance Societies (Act 239 of 2004), which opted to operate as an Insurance Holding Company under the provisions of Chapter 44 of the said Code.

In addition to underwriting most personal and commercial property and casualty insurance lines, CSM is the leading domestic provider of auto insurance, title and other specialize cooperative insurance products on the Island.

GCSM’s shareholders are local cooperative organizations, mainly of the savings and loans category, which provide not only capital, but strong market support for CSM’s products, through the purchase of insurance coverages to take care of the risk exposures of both the institutions and its members.

At present cooperative organizations are experiencing a significant growth in Puerto Rico, by-among other factors – filling the gap created in the local financial markets by the exodus from the Island, of a group of North American and international commercial banks. Their ascending trend should contribute, among other factors, to strengthen CSM’s future market growth.

Besides providing affordable insurance products to cooperatives and their members, CSM serves the non-cooperative insurance market, including individuals and small and medium size business enterprises. In 2021, it attained a 13.5% market share represented by 600,000 policyholders, and, according to an independent survey, it maintains a significant presence in Puerto Rico with a strong recognition by local customers.

CSM makes significant social contributions to the Puerto Rican society, other than providing insurance, and has earned a reputation as a practitioner of corporate social responsibility.

It is headquartered at 38 Nevarez Street, San Juan Puerto Rico, and serves the market through eight branch offices, strategically spread throughout the Island.

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.  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 400 insurers operating in the US.  Visit for additional information.

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