Rockingham Group Affirmed at Aʹ (A Prime), Unsurpassed by Demotech, Inc.

PR Newswire

COLUMBUS, Ohio, May 6, 2024 /PRNewswire/ -- Each member of Rockingham Mutual Group, Inc., Rockingham Insurance Company, Rockingham Casualty Company, and Rockingham Specialty, Inc., has earned and had affirmed its Financial Stability Rating^® (FSR) of Aʹ (A Prime), Unsurpassed. This 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.

According to Joseph Petrelli, President, Demotech, Inc., "Each member of the group has a strong balance sheet that is protected by an enterprise risk management program that is consistent with the book of business, underwriting appetite, and the reinsurance program of the insurer. Recognizing that near-term operating results may not have met their expectations, appropriate remediation has been implemented. Having its original formation in 1869, this is a carrier that has been addressing the needs of policyholders, claimants, regulators, reinsurers and producers for 155 years. Few carriers have been able to address the multitude of economic situations that have occurred since 1869. Management seems focused on continuing the longstanding tradition of meeting the needs of all stakeholders."

"Demotech's review and affirmed FSR validates our financial strength and future outlook," said Robert Lyon, President & CEO. "Rockingham Insurance is committed to ensuring long-term stability and financial security for our policyholders and communities. We continuously monitor and adapt our price, product offerings, and agency distribution channels."

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 Financial Stability Ratings^®(FSRs). Demotech's philosophy is to review and evaluate insurers based on their area of focus and execution of their business model rather than on financial size. Demotech was the first to review and rate independent regional and specialty Property and Casualty insurers. Demotech's consistently expanding list of accreditations and acceptances has resulted in rating and reviewing 460 insurers operating in the US. As of July 11, 2022, Demotech, Inc. is registered with the U.S. Securities and Exchange Commission as a nationally recognized statistical rating organization (NRSRO) in the class of ratings for insurance companies. Learn more at www.demotech.com.

About Rockingham Group

Rockingham Insurance, headquartered in Harrisonburg, Virginia, is a property & casualty insurance company providing coverage for homes, autos, farms, and rental properties. Rockingham Mutual Group, Inc. is the ultimate parent company of Rockingham Group, Inc., Rockingham Insurance Company, Rockingham Casualty Company, and Rockingham Mutual Service Agency, Inc. For over 150 years, Rockingham has been insuring the people that make our community grow and thrive. Visit https://rockingham.insure/ for more information.

View original content to download multimedia:https://www.prnewswire.com/news-releases/rockingham-group-affirmed-at-a-a-prime-unsurpassed-by-demotech-inc-302137189.html