Demotech Affirms the Financial Stability Rating® Assigned to Stillwater Insurance Company

Columbus, Ohio, October 12, 2023: The Financial Stability Rating® (FSR) of A, Exceptional, assigned to Stillwater 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 Stillwater Insurance Company

Stillwater was founded in 2000 as Fidelity National Property and Casualty Insurance Group, a branch of Fidelity National Financial (FNF), and lead by President and CEO Mark Davey.

With the purchase of Anza Insurance (later named Fidelity National Insurance Company), the underwriting core of FNF’s P & C insurance division was created. In January of 2003, the group acquired First Community Insurance Company – later renamed Fidelity National Property and Casualty Insurance Company.

On May 1, 2012, Mark Davey and a group of investors purchased 85 percent of the outstanding shares of FNF’s P&C operations and the company was rebranded Stillwater Insurance Group. On June 16, 2016, the remaining 15% interest was purchased from FNF.

Stillwater serves customers in 50 states, providing a suite of personal and commercial insurance products.

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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