CHICAGO–(BUSINESS THREAD)–Kin Insurance today announced that Demotech, Inc., a financial analytics firm, has once again affirmed the Outstanding Financial Stability Rating® (FSR) of A for the Kin Insurance Network . The statement comes after Demotech’s review of the first quarter 2022 statutory financial statements, the review of the catastrophe reinsurance programs of the Florida-focused telephone companies and discussions and exchanges of information between management and Demotech.
Demotech assigns the rating A, exceptional level to insurers that possess exceptional financial stability related to the maintenance of a positive surplus with respect to policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable losses and reserves for loss adjustment expenses and realistic prices.
“Kin’s consistently high FSR demonstrates our staying power and strong financial position, even in a challenging environment like Florida,” said Angel Conlin, Kin’s Chief Underwriting Officer. “While some operators may struggle in this tough market, Kin is nimble and we are ready to face future challenges head on, while helping our customers do the same. The Demotech team provided us with ample opportunity to share Kin’s unique attributes.”
Demotech’s claim follows Kin’s recent placement reinsurance programas well as the closing of its first catastrophe bond earlier this year. Kin’s reinsurance program applies to all states and policies in the Kin Insurance Network.
You can see more information about Kin’s FSR here.
About Kin
Kin is the home insurance company for every new normal. Leveraging proprietary technology, Kin offers fully digital homeowners insurance with an elegant user experience, accurate pricing, and fast, high-quality claims service. Kin offers homeowners, homeowners, condo and mobile home insurance through the Kin Interinsurance Network (KIN), a reciprocal exchange owned by its customers who share in the benefits of underwriting. Because of its efficient technology and direct-to-consumer model, Kin offers affordable prices without compromising coverage. For more information, visit www.kin.com.
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