Louisiana-based Centauri National Insurance Co. 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.
Centauri National Insurance Co. (CNIC) is a Louisiana domiciled subsidiary of Centauri Specialty Insurance Co. and part of Centauri Specialty Insurance Holdings Inc., a Delaware holding company.
The company was formed in 2017 and will offer a variety of residential products in Louisiana including homeowners, dwelling and fire, in addition to specialty lines (flood, hurricane and wind).
Source: Demotech Inc.
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