- Financial Stability Rating® Notifications
- Demotech Assigns Financial Stability Rating® to Saucon Insurance Company
Demotech Assigns Financial Stability Rating® to Saucon Insurance Company
Columbus, Ohio, January 23, 2020: Saucon Insurance Company has earned a Financial Stability Rating® (FSR) of A, Exceptional, from Demotech, Inc. This level of FSR is assigned to insurers who possess exceptional 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 Saucon Insurance Company
Saucon Insurance Company (SIC) was formed in 1832 as the Farmers File Insurance Company of Upper and Lower Saucon Townships. The Company later changed its name to Saucon Mutual Insurance Company and, in 2018, changed its name again to SIC when it converted to a stock company. Now located in Bethlehem, PA, SIC has operated as a property insurance company for 188 years and maintains a high level of surplus.
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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