Last week, Security First Insurance Company presented their 2008 financial results and 2009 reinsurance plan to Demotech, Inc., a leading provider of financial analysis and actuarial services. After reviewing the company’s financial statements and reinsurance program, Demotech has assigned Security First a 2009 Financial Stability Rating® (FSR) of A, Exceptional.
According to Demotech, “regardless of the severity of a general economic downturn or deterioration in the insurance cycle, insurers earning a Financial Stability Rating® of A possess Exceptional financial stability related to maintaining positive surplus as regards policyholders.”
Security First maintained their FSR of A in part due to the company’s comprehensive reinsurance program and proven track record.
“We’re committed to conservative financial management ensuring our ability to pay claims and come through on our promise to policyholders,” said Security First President Locke Burt.
“When big carriers are leaving Florida, we’re proving that we’re here to stay,” said Burt. “We have the financial strength and stability Floridians need and deserve.”