COLUMBUS, Ohio, Dec. 14, 2018 /PRNewswire/ -- Subsequent to Demotech's review and analysis of the September 30, 2018, statutory financial information of Conifer Insurance Company and White Pine Insurance Company, the companies withdrew from Demotech's Financial Stability Rating® (FSR) review and analysis process. Demotech's President, Joseph L. Petrelli, noted, "We wish them well." The FSRs were withdrawn December 12, 2018.
On December 11, 2018, Conifer Holdings, Inc. announced that its Board of Directors has authorized a program to repurchase up to one million shares of the Company's common stock. Shares may be purchased in the open market or through negotiated transactions. The program may be terminated or suspended at any time, at the discretion of the Company.
About Conifer Holdings Inc.
Conifer Holdings, Inc. is a Michigan-based property and casualty holding company. Through its subsidiaries, Conifer offers specialty insurance coverage for both commercial and personal lines, marketing through independent agents in all 50 states. Additional information is available on their website at www.cnfrh.com.
About Demotech, Inc.
Demotech, Inc. is a financial analysis firm specializing in evaluating the financial stability of regional and specialty insurers. Since 1985, Demotech has served the insurance industry by assigning accurate, reliable and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurers, public entity pools, and Title underwriters. FSRs are a leading indicator of financial stability, providing an objective baseline of the future solvency of a public entity pool. Demotech's philosophy is to evaluate insurers based on their area of focus and execution of their business model rather than solely on financial size. Visit www.demotech.com for information.
SOURCE Demotech, Inc.