Demotech Affirms the Financial Stability Rating® Assigned to Augusta Mutual Insurance Company
Columbus, Ohio, October 17, 2023: The Financial Stability Rating® (FSR) of A’ (A Prime), Unsurpassed, assigned to Augusta Mutual 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 Augusta Mutual Insurance Company
Augusta Mutual Insurance Company (Augusta Mutual) was formed in 1870 as East Augusta Mutual Fire Insurance Company. Located in Staunton, Virginia, Augusta Mutual has evolved over the years into a strong and financially responsible mutual insurance company. Through conservative financial management, sound underwriting practices and controlled premium growth Augusta Mutual works to protect their policyholders. Augusta Mutual has five core values – Character, Service, Results, Innovation and Feedback. Augusta Mutual follows these to adhere to its mission to build and enhance policyholder’s surplus through qualified and knowledgeable employees, as well as innovative products and policy offerings.
More information is available at www.augusta-insurance.com.
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 www.demotech.com for additional information.
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