Jun 22, 2015, 04:29 ET
COLUMBUS, Ohio, June 22, 2015 /PRNewswire/ -- Lutheran Mutual Fire Insurance Company has earned a 2015 Stakeholder Team Accomplishment Recognition™ (STAR) Award from Demotech, Inc. for its operating results in 2014. A total of 2,657 Property and Casualty carriers were reviewed and analyzed, with only 29, or 1.1 percent, meeting each of Demotech's objective operating criteria. Lutheran Mutual Fire Insurance Company was one of only two carriers in the Regional Company Classification category to earn a 2015 STAR award.
Demotech developed the Stakeholder Team Accomplishment Recognition™ Award to identify and recognize insurers that were able to satisfy all stakeholders, not just some interested parties. To earn a 2015 STAR Award, Lutheran Mutual Fire Insurance Company demonstrated that:
- employees and producers benefited from a combined compensation level above the median within the Company's Classification System
- claimants benefited as measured by an accident year 2014 loss and loss adjustment expense ratio above the median within the Company's Classification System category
- regulators and consumers benefited from a strong balance sheet and relative financial stability
- reinsurers benefited due to the relative stability between the Company's net and ceded loss and loss adjustment expense ratios
- overall profitability was in the top third of the Company Classification System category, measured by return on net admitted assets
- March 31, 2015, operating results confirmed that the reported year-end 2014 results were realistic and reasonable, particularly regarding our loss and loss adjustment expense reserve criteria.
About Lutheran Mutual Fire Insurance Company
Lutheran Mutual Fire Insurance Company was formed in 1873 by a group of German Lutherans in response to the devastation caused by the Great Chicago Fire. The company was formally licensed by the State of Illinois in 1929. Lutheran Mutual is currently located in Wheaton, Illinois and provides homeowners insurance with competitive rates throughout the northern Illinois area. The company maintains a high surplus to written premium ratio through conservative investment policies and careful underwriting.
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 and Title underwriters. FSRs are a leading indicator of financial stability, providing an objective baseline of the future solvency of an insurer, regardless of financial size. Visit www.demotech.com for more information.
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SOURCE Demotech, Inc.
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