Demotech, Inc. affirms Financial Stability Rating® for Florida Peninsula Insurance Company

COLUMBUS, Ohio, May 13, 2013 /PRNewswire/ -- Demotech has completed its review of the year-end 2012 and first quarter 2013 financial information prepared by Florida Peninsula Insurance Company. Based on these reviews in conjunction with review of the Company's catastrophe reinsurance program for the upcoming storm season and other requirements consistent with the assignment of an FSR at the A level, Demotech affirms Florida Peninsula Insurance Company at A, Exceptional.

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According to Joseph L. Petrelli, President and Co-founder, "Demotech is familiar with the legislative, regulatory and marketplace changes that have taken place in Florida over the past several years. The fifty Florida domiciled carriers that we follow comprise 75% of the Homeowners insurance market that is not written by Citizens Property Insurance Corporation or State Farms' Florida affiliate. With its recent infusion of additional capital, we believe that Florida Peninsula has re-affirmed its financial commitment to be a key resource in the resurgence of private sector insurance. Florida Peninsula Insurance Company remains well positioned to serve its insureds, agents, reinsurers and stakeholders."

About Demotech, Inc.

Since 1985, Demotech has served the insurance industry by assigning accurate, reliable and proven Financial Stability Ratings^® (FSRs) for Property & Casualty insurers and Title underwriters. FSRs are a leading indicator of financial stability, providing an objective baseline of the future solvency of an insurer.  Demotech's philosophy is to review and evaluate insurers based on their area of focus and execution of their business model rather than solely on financial size. This philosophy was the catalyst for the Demotech Company Classification System, which stratifies and categorizes insurers into operational categories.  Visit www.demotech.com for more information and to view the latest Financial Stability Ratings^®.

About Florida Peninsula Insurance Company

Florida Peninsula Insurance Company (FPIC) combines its large-company experiences with its small-company flexibility, innovation and attitude to provide policyholders with the best and most cost-effective policies. FPIC is financially sound, has an excellent track record, and is fast, fair and friendly. For more information, visit www.floridapeninsula.com.

SOURCE Demotech, Inc.

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