Reinsurance News
Demotech
Tech-enabled litigation instigation, a new practice destabilising US insurance markets: Demotech
19th November 2025
Systemic, tech-driven lawsuit practices are destabilising insurance markets in the United States, recent research by rating agency and financial analyst Demotech has revealed. Vulnerable property owners hit by natural disasters are facing a "second wave" of distress, not just from the storms, but from a “predatory, covert business model” known as ... Read the full article
Demotech assigns Financial Stability Rating of A to Mangrove
11th February 2025
Demotech, Inc., a rating agency and financial analysis firm, has assigned Mangrove Property Insurance Company (Mangrove) a Financial Stability Rating of A, Exceptional. Mangrove, a newly established Florida insurer led by Stephen Weinstein, was approved by the Florida Office of Insurance Regulation in January 2025 to provide property and casualty ... Read the full article
All insurance lines targeted by tech-enabled claim instigation: 4WARN
5th July 2024
According to Todd Kozikowski, Co-founder, CEO, 4WARN, nearly all insurers and lines of insurance are now being targeted by tech-enabled claim instigation, a phenomenon once considered confined to Florida. In March 2022, Demotech’s research, undertaken by aforementioned Kozikowski and authorised by Joe Petrelli, President and Co-Founder of rating agency Demotech and ... Read the full article
TRUE receives ‘A’ rating from Demotech
22nd March 2024
Demotech, Inc., a rating agency and financial analysis firm, recently bestowed a Financial Stability Rating of 'A', Exceptional, to Trusted Resource Underwriters Exchange (TRUE), a reciprocal insurer established by American Family. The rating was prompted by a new partnership between private investment firm Gallatin Point Capital and insurer American Family ... Read the full article
Coastal insurer SURE to offer surplus lines homeowners in California
22nd March 2024
Demotech-rated SureChoice Underwriters (SURE), a policyholder-owned coastal insurer, has launched its surplus lines homeowners insurance products in California, in partnership with managing general underwriters SageSure. With this new insurance solution, SURE is the first Demotech-rated carrier to offer surplus lines homeowners insurance in the California market. Demotech became the financial analysis firm ... Read the full article
Safepoint’s new reciprocal exchange Manatee gets ‘A’ rating by Demotech
8th March 2024
Safepoint Group's newest reciprocal exchange, Manatee Insurance Exchange (Manatee), has been assigned a Financial Stability Rating of 'A', Exceptional, by Demotech, Inc. Manatee was formed to focus on providing insurance solutions to Florida homeowners and business owners. Joseph L. Petrelli, President and Co-founder, Demotech, Inc., commented: "Insurers without sufficient representative operating ... Read the full article
Florida’s residential property marketplace has been redefined, says Demotech
22nd February 2023
Florida's residential property insurance marketplace has been "redefined" following an "impressive" series of meaningful legislative reforms, suggests rating agency Demotech. Demotech states that under the leadership of Governor Ron DeSantis, Senate President Kathleen Passidomo, and House Speaker Paul Renner, the calendar year 2022 was a "year to remember" for the policyholders ... Read the full article
Kin’s second reciprocal exchange gets Demotech A rating
11th January 2023
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has announced that financial analysis firm Demotech has assigned an FSR of A, Exceptional, to the Kin Interinsurance Nexus. The Kin Interinsurance Nexus is Kin’s second reciprocal exchange and utilises a direct-to-consumer model and efficient technology ... Read the full article
Data suggests Demotech rated carriers have sufficient reinsurance for Ian claims
14th October 2022
Rating agency and financial analysis firm, Demotech, Inc., has reported that, at this stage, all of the Florida-focused insurance carriers it rates will be able to handle claims from hurricane Ian within their reinsurance towers, based on early reporting and cat modelling results. Of course, the ultimate insurance and reinsurance industry ... Read the full article
Centauri carriers’ A rating affirmed as Demotech announces revisions
4th August 2022
The Centauri insurance companies, which operate in Hawaii and along many of the coastal states in the U.S., have had their 'A' (Exceptional) rating affirmed by Demotech, a move it says reflects disciplined underwriting and its robust reinsurance program. The anticipated changes to ratings of property insurers with a Florida focus ... Read the full article
Florida’s CFO says policyholders “will get the support they need”
28th July 2022
Florida’s Office of Insurance Regulation has made contingency plans to establish a temporary reinsurance arrangement through Citizens Property Insurance Corporation in the event of a “disruptive” financial rating downgrade from Demotech. Last week, Florida’s CFO, Jimmy Patronis, issued letters to Fannie Mae, Freddie Mac and the Federal Housing ... Read the full article
Florida enacts temporary reinsurance plan amid Demotech downgrades
27th July 2022
The Florida Office of Insurance Regulation (OIR) has made plans to establish a temporary reinsurance arrangement through Citizens Property Insurance Corporation (Citizens) in the event of what it considers to be "disruptive" financial rating downgrades from regional rating agency, Demotech, Inc. Demotech recently wrote to 17 Floridian insurers to inform ... Read the full article
Florida officials lash back as Demotech writes to 17 insurers over potential downgrades
22nd July 2022
Rating agency Demotech sent a letter to 17 Floridian insurers on Tuesday explaining that they are likely to have their A ratings downgraded on July 26th, a move the Florida Office of Insurance Regulation (OIR) describes as an "example of inconsistent, monopolistic power of a select rating agency". The letter warned ... Read the full article
Demotech approved as Nationally Recognized Statistical Rating Organization by SEC
19th July 2022
Rating agency and financial analysis firm Demotech, Inc. has now been approved as a Nationally Recognized Statistical Rating Organization (NRSRO) by the United States Securities and Exchange Commission (SEC). The approval came on July 12th and now the recognition by the SEC now positions Demotech alongside the other main financial services ... Read the full article
Demotech extends financial strength review amid Florida challenges
4th July 2022
Financial analysis firm Demotech has extended its process of reviewing the financial strength of Florida insurers and reinsurers, following a challenging renewal period for firms operating in the state. Demotech notes that it was one of the early movers in requesting a special session for the Florida legislature to address the ... Read the full article
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