Columbus, OH (PRWEB) September 14, 2005
Virginia Surety Company, Inc. has earned a Financial Stability Rating® (FSR) of A' (A prime), Unsurpassed, from Demotech, Inc. This level of FSR is appropriate for insurers who possess unsurpassed ability to maintain liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves and realistic pricing.
FSRs summarize Demotech's opinion as to the financial stability of an insurer regardless of general economic conditions or the phase of underwriting cycle. FSRs are based upon statutory insurance accounting principles prescribed or permitted by the National Association of Insurance Commissioners (NAIC). For more than a decade, FSRs of A or better have been accepted by the major participants in the secondary mortgage marketplace, including the Fannie Mae, Freddie Mac and HUD.
Virginia Surety Company is the principal U.S. property/casualty insurance company of Aon Corporation. Virginia Surety Company provides innovative approaches to the insurance of risks as well as sound and conservative underwriting experience for a variety of client industries. The Company offers a wide array of insured service plans and warranty products to the auto, recreational, consumer electronics, appliance, home and commercial industries. The Company is rated A- by A.M. Best Company.
Aon Corporation is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. Aon is ranked as one of the top 250 U.S.-based companies on the Fortune 500 list, operating from 500 offices in more than 120 countries and sovereignties and with 47,000 employees worldwide.
Since 1985, Demotech, Inc., a Columbus, Ohio based financial analysis and actuarial services firm, has been serving the insurance industry, providing a wide range of services including pricing analysis, state filings assistance, Financial Stability Ratings® and support for other required regulatory reporting. Demotech was the first company to have its rating process formally reviewed and accepted by Fannie Mae, Freddie Mac and HUD.