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  • Demotech Withdraws Financial Stability Ratings® Assigned to Lighthouse Property Insurance Corporation and Lighthouse Excalibur Insurance Company | News

Demotech Withdraws Financial Stability Ratings® Assigned to Lighthouse Property Insurance Corporation and Lighthouse Excalibur Insurance Company | News

By on March 30, 2022 0

Columbus, Ohio, March 30, 2022 /PRNewswire/ — Effective March 29, 2022Demotech, Inc. has withdrawn financial stability ratings® (FSR) previously assigned to Lighthouse Property Insurance Corporation and Lighthouse Excalibur Insurance Company.

According to Joseph Petrellipresident of Demotech, Inc., “Despite a substantial capital injection in the fourth quarter of 2021, the operating loss in 2021, which reflected the assessment of losses and loss adjustment expenses associated with Hurricane Ida, resulted in a level of capitalization lower than what was necessary to maintain the FSRs at level A.”

About Demotech, Inc.

Demotech, Inc. was the first firm to rate independent, regional and specialty insurers. Since 1985, Demotech has served the industry by providing accurate, reliable and proven financial stability ratings® damage insurers and security underwriters. FSRs provide an objective benchmark of an insurer’s solvency. Demotech’s philosophy is to review and evaluate insurers based on their area of ​​focus and business model execution rather than solely on financial size. Demotech’s growing accreditations and acceptances have resulted in its review of over 450 insurers operating in the United States. To visit www.demotech.com for more information.

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SOURCE Demotech, Inc.