Florida-based Frontline Withdraws from Demotech But Sees BBB+ from KBRA

on Jan 05, 2023 01:40:PM

Frontline Insurance Group, parent to two significant property insurers in Florida, has had its financial rating stability withdrawn by the Demotech rating firm.

Frontline corporate leaders were not available Tuesday to talk about the move. But company officials who spoke on background said the insurers had voluntarily withdrawn their rating requests and have ended their association with Demotech in the wake of widespread dissatisfaction with the Demotech rating process.

Lake Mary-based Frontline Insurance Unlimited Co. and its sister company, First Protective Insurance Co., are now rated by KBRA, formerly Kroll Bond Rating Agency. The firm gave the carriers a “BBB+” rating in December, and the outlook for the companies was marked as “stable,” KBRA said.

[Read More...]