COLUMBUS, Ohio, May 6, 2024
/PRNewswire/ -- Each member of Rockingham Mutual Group, Inc.,
Rockingham Insurance Company, Rockingham Casualty Company, and
Rockingham Specialty, Inc., has earned and had affirmed its
Financial Stability Rating® (FSR) of Aʹ (A
Prime), Unsurpassed. This 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.
According to Joseph
Petrelli, President, Demotech, Inc., "Each member of the
group has a strong balance sheet that is protected by an enterprise
risk management program that is consistent with the book of
business, underwriting appetite, and the reinsurance program of the
insurer. Recognizing that near-term operating results may not have
met their expectations, appropriate remediation has been
implemented. Having its original formation in 1869, this is a
carrier that has been addressing the needs of policyholders,
claimants, regulators, reinsurers and producers for 155 years. Few
carriers have been able to address the multitude of economic
situations that have occurred since 1869. Management seems focused
on continuing the longstanding tradition of meeting the needs of
all stakeholders."
"Demotech's review and affirmed FSR validates our financial
strength and future outlook," said Robert Lyon, President & CEO. "Rockingham
Insurance is committed to ensuring long-term stability and
financial security for our policyholders and communities. We
continuously monitor and adapt our price, product offerings, and
agency distribution channels."
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 Financial Stability Ratings®
(FSRs). Demotech's philosophy is to review and evaluate
insurers based on their area of focus and execution of their
business model rather than on financial size. Demotech was the
first to review and rate independent regional and specialty
Property and Casualty insurers. Demotech's consistently expanding
list of accreditations and acceptances has resulted in rating and
reviewing 460 insurers operating in the US. As of July 11, 2022, Demotech, Inc. is registered with
the U.S. Securities and Exchange Commission as a nationally
recognized statistical rating organization (NRSRO) in the class of
ratings for insurance companies. Learn more at
www.demotech.com.
About Rockingham Group
Rockingham Insurance, headquartered in Harrisonburg, Virginia, is a property &
casualty insurance company providing coverage for homes, autos,
farms, and rental properties. Rockingham Mutual Group,
Inc. is the ultimate parent company of Rockingham Group,
Inc., Rockingham Insurance Company, Rockingham Casualty
Company, and Rockingham Mutual Service Agency, Inc. For
over 150 years, Rockingham has
been insuring the people that make our community grow and
thrive. Visit https://rockingham.insure/ for more
information.
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SOURCE Demotech, Inc.