SafePoint is proud to be rated favorably by leading independent rating organizations. These companies specialize in reviewing, analyzing and attesting to insurance companies’ financial security and their ability to deliver on promises made to policyholders.
A.M. Best has assigned a financial strength rating of B (Fair) to Safepoint. Our adequate levels of capitalization, strict risk selection criteria, sophisticated pricing and comprehensive reinsurance program support this rating.
A.M. Best Company is the world’s oldest and most authoritative insurance rating information source.
This financial stability rating is an indication of an insurance company’s financial strength.
According to Demotech, an A rating means Safepoint has an Exceptional ability to maintain liquidity of invested assets, quality reinsurance, acceptable financial leverage and realistic pricing while simultaneously establishing loss and loss adjustment expense reserves at reasonable levels.
For details, visit Demotech on-line here.
SafePoint also understands that one very important aspect of writing property insurance in Florida is having a strong catastrophe reinsurance program. SafePoint has finalized our reinsurance program with the following objectives:
|Category||12/31/16||Year End 2015|
|Assets||Cash and Invested Assets||$106,319,923||$97,731,243|
|Loss and LAE Reserves||$33,486,886||$24,595,679|
|Capital and Surplus||Capital Stock||$3,300,000||$2,550,000|
|Paid In & Contributed Surplus||$40,200,000||$26,450,000|
|Total Policyholder Surplus||$49,673,579||$41,744,588|
|Total Liabilities and Surplus||$138,959,852||$110,567,460|