Demotech Upgrades Conventus Inter-Insurance Exchange FSR to “A”
October 2, 2017by
Conventus Inter-Insurance Exchange, a New Jersey medical malpractice insurer, announced that the Demotech Financial Stability Rating (FSR) assigned to it has been upgraded to A (A Double Prime), Unsurpassed. This is Demotech’s highest FSR, assigned to insurers who possess exceptional financial stability related to maintaining positive surplus for policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves (L&LAE) and realistic pricing.
“We are extremely gratified to have been assigned Demotech’s highest Financial Stability Rating,” said Lyn Winters, Conventus president. “The Conventus promise to its member owners is that we will manage the company responsibly, and in the best interests of our physicians, so that we will be there for them now and in the future. This rating upgrade is further confirmation that Conventus is extremely strong financially and solidly positioned for continued growth and long-term success.”
Launched in December 2002, Conventus now insures almost 1,200 physician owners with a total surplus of more than $41 million. Conventus is also celebrating its eighth consecutive year of returning profit to its physician member owners through the Conventus Owner Benefit Plan, rewarding almost $13 million in dividends and capital returns in that time.