Demotech Affirms the Financial Stability Ratings of Four Insurers in United Insurance Holding Corporation (UW) AFT
The Financial Stability Ratings, in COLUMBUS, Ohio, Sept. 14, 2021 /PRNewswire - The financial stability rating is based on the financial year's status. - 01 . (FSR) of A, A. A little exception. Demotech, Inc. This level of FSR is assigned to insurers who have exceptional financial stability relating to maintaining positive surplus as regards policyholders, adequate liquidity of invested assets, reasonable expense reserves (L&LAE)
Joe Petrelli, a founder and president of Demotech, noted that additional information was considered to supplement the Q2 2021 financial statements and operating results. We obtained information from conversations and meetings with executive management that were not available at the time of the most recent statutory financial statements. Our financial rating is a premise of the Financial Stability Ratings, based on our current understanding of corporate business model, and the favorable impact of efforts on the Company's operating plan, the availability of capital and future operating results - / XV m Based on the entire review of the June 30, 2021 operation results and actions of management, we found the results of our review to be exhaustive. Any future affirmations will require demonstrable evidence of the impact of revisions on the company's financial stability.
Demotech, an insurer that rated insurers has covered the needs of claimants in recent years, despite the natural disasters of wind, wildfire or flood. The flood-related claims incurred by Demotech have been addressed adequately by the horizontal reinsurance requirements, thus far, in a single storm season.
We appreciate Demotech's diligence and efforts to understand the operational changes UPC has made over the last 12 months, all leading to the previously described transition year of 2021. We are excited to see if a favorable impact will arise due to the many underwriting and reinsurance changes incorporated into our business model.
"Insureds seek carriers that stand the nature's forces." An important number of weather events in one season has become very often a typical phenomenon. Our insurers were ready despite the more rigorous horizontal catastrophe reinsurance requirements in 2002. While we acknowledge that even a victorious champion looks different at the end of the game than stepping on the field, this four carriers retain the ability to honor meritorious claims.
About Demotech, Inc. Demotech, Inc. is a financial analysis firm specialized in evaluating regional and specialty insurers' financial stability. Demotech has served the insurance industry since 1985 by assigning accurate, reliable, and proven Financial Stability Ratings to the industry. ! For Property & Casualty insurers and Title underwriters, the FSRs are for Property and Casualties insurances. FSRs are a leading indicator of financial stability, providing an objective base of the future solvency of an insurer. Demotech's philosophy is to examine and evaluate insurers based on their focus and the execution of their business model rather than on the 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 the rating and review of more than 400 insurers operating in America. For further information, visit www.demotech.com.
About United Insurance Holding Corporation About the United States' Insurance Corporation. United Insurance Holdings Corp. - United Property & Casualty Insurance Company (UIHC) is a holding company of the affiliated company United. These entities are collectively referred to as "UPC Insurance," including United Insurance Holdings Corp. UPC Insurance is an independent business that operates in the US for homeowners property and casualty insurance.
SOURCE Demotech, Inc.