- Financial Stability Rating® Notifications
- Demotech Sustains Financial Stability Rating® Assigned to Centauri Specialty Insurance Company Due to Acquisition
Demotech Sustains Financial Stability Rating® Assigned to Centauri Specialty Insurance Company Due to Acquisition
Columbus, Ohio, January 15, 2020: Demotech, Inc. announces that the Financial Stability Rating® (FSR) of A, Exceptional, assigned to Centauri Specialty Insurance Company is being sustained based upon its pending acquisition by Avatar Partners LP, parent of Avatar Property & Casualty Insurance Company. According to Joseph L. Petrelli, ACAS, MAAA (MBA), President and co-founder, Demotech, Inc.: “We have been frequently briefed by Centauri and Avatar personnel throughout the process and assured that both parties desire to effect a transaction that will enhance the 2019 year-end annual statement of Centauri Specialty Insurance Company. It appears that consumer, claimant, agency, and reinsurer relationships should be enhanced by the introduction of Avatar’s ownership, management, expertise, philosophy, and financial resources.”
About Demotech, Inc.
Demotech, Inc. is a financial analysis firm specializing in evaluating the financial stability of regional and specialty insurers. Incorporated in 1985, in 1989, Demotech became the first to review and rate independent regional and specialty insurers. Today, Demotech reviews and rates 400 risk bearing entities operating in the US. In terms of uniquely rating carriers in the US, only one insurer rating service rates more insurers than Demotech. 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. Visit www.demotech.com for more information.
About Centauri Specialty Insurance Company
Centauri Specialty Insurance Company (CSIC) is a part of Centauri Specialty Insurance Holdings, Inc. a Delaware holding company. CSIC offers a variety of residential and commercial insurance products including Homeowners, Dwelling Fire, Businessowners, and Commercial Habitational in addition to specialty lines (earthquake, flood, hurricane and wind). The Company was formed in 2006 and launched operations in Hawaii and has since grown to become one of the largest carriers providing hurricane insurance in that state. In addition to Hawaii, CSIC currently underwrites business in eight other states, with plans to expand into additional states and regions in the future. For more information, please visit www.centauriinsurance.com.
About Avatar Property & Casualty Insurance Company
Avatar Property & Casualty Insurance Company (Avatar) has been protecting the assets of Florida homeowners since April 2008. Avatar’s mission is to be the insurance company of choice by applying diligence, responsiveness and integrity into everything they do. Avatar pledges to provide policyholders with security in the eye of a storm, exceptional customer care and prompt claims service. Avatar is committed to protecting all policyholders by making sound underwriting decisions. Visit www.avatarins.com for more information.