Demotech Affirms Financial Stability Rating® Assigned to Forward Mutual Insurance Company

Columbus, Ohio, November 13, 2019: The Financial Stability Rating® (FSR) of A’ (A Prime), Unsurpassed, assigned to Forward Mutual Insurance Company has been affirmed by Demotech, Inc.  This level of 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.

FSRs summarize Demotech’s opinion of the financial stability of an insurer regardless of general economic conditions or the phase of the underwriting cycle.  FSRs utilize statutory financial data based on insurance accounting principles prescribed or permitted by the National Association of Insurance Commissioners (NAIC).  Since 1989, FSRs of A or better have been accepted by the major participants in the secondary mortgage marketplace.

About Forward Mutual Insurance Company

Forward Mutual Insurance Company (FMIC) began on November 6, 1875, when 31 property owners in the Town of Ixonia met in Ixonia Center to form the Town of Ixonia Mutual Fire Insurance Company. This was in response to the inability of rural Wisconsin property owners to find affordable fire insurance.  FMIC has been licensed as a Town Mutual by the State of Wisconsin since that time and is still headquartered in Ixonia, Wisconsin.  FMIC provides home and farm insurance to property owners in 16 counties in southeastern Wisconsin.  FMIC maintains a high surplus to premium ratio through conservative investment policies and careful underwriting. The guiding vision is to remain strong, progressive, and true to the company’s original tradition of “neighbor helping neighbor.”  Visit for more information.

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 accurate, reliable and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurers and Title underwriters.  FSRs are a leading indicator of financial stability, providing an objective baseline of the future solvency of an insurer.  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 for more information.

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