Demotech Affirms the Financial Stability Rating® Assigned to Castle Key Insurance Company
Columbus, Ohio, September 21, 2012: The Financial Stability Rating® (FSR) of A’ (A Prime), Unsurpassed, assigned to Castle Key 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 Castle Key Insurance Company
Castle Key Insurance Company and Castle Key Indemnity Company are subsidiaries of Allstate Insurance Company and are the primary providers of personal lines property insurance in Florida for the Allstate group. Castle Key Insurance Company and Castle Key Indemnity Company sell homeowners, condominium owners, and renter’s insurance protection through more than 700 agencies in the state of Florida. Property insurance policies sold by Castle Key Insurance Company and Castle Key Indemnity Company are not underwritten or reinsured by any other company in the Allstate group.
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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