- Financial Stability Rating® Notifications
- Demotech Upgrades the Financial Stability Rating® Assigned to Great Lakes Mutual Insurance Company
Demotech Upgrades the Financial Stability Rating® Assigned to Great Lakes Mutual Insurance Company
Columbus, Ohio, December 5, 2018: The Financial Stability Rating® (FSR) assigned to Great Lakes Mutual Insurance Company has been upgraded to A′, Unsurpassed, 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 Great Lakes Mutual Insurance Company
Great Lakes Mutual Insurance Company (GLMIC) commenced business in 1989 and was incorporated in 1901. They are a Company owned by their Policyholders whom they proudly serve. Currently, GLMIC writes Dwelling Fire, Allied Lines, Premises Liability, Condominium and Homeowner business within the State of Michigan. Visit www.glmutual.com 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 www.demotech.com for more information.
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