Olympus Insurance Assigned Insurance Financial Strength Rating by KBRA
JACKSONVILLE, Fla.–(BUSINESS WIRE)–#BeAnOlympian—Olympus Insurance received a BBB+ Insurance Financial Strength Rating (IFSR) from Kroll Bond Rating Agency (KBRA) in December of 2022. Olympus (OIC) is proud to obtain a positive rating which exceeds the requirements of Fannie Mae and Freddie Mac.
Olympus’ partnership with this global rating agency is necessary for the company’s future growth strategy. The IFSR of BBB+ affirms Olympus’ emphasis on steady, conservative expansion has continued to strengthen OIC’s financial position.
“Our team at Olympus Insurance together with our independent agents are extremely proud of our rating relationship with KBRA. Their initial rating of BBB+ clearly indicates OIC’s on-going financial strength and commitment to superior policy coverage for our over 80,000 policyholders.” stated Dennis McGill, Chairman of Olympus Insurance.
Olympus was only one of five Florida property writers to generate positive net income for the years 2017 to 2022. OIC’s surplus growth during this time has allowed the company to maintain sound risk adjusted capitalization.
OIC is a leader in the Florida home insurance industry with a proven track record of stable financials, unmatched coverage options, broad policy forms, and a brand policyholders and agents can trust. OIC looks forward to the exciting opportunities the KBRA rating represents for the future of Olympus Insurance.
Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.
About Olympus Insurance:
Olympus Insurance Company, founded in 2007, specializes in property insurance. Olympus insures residential and investment properties including homes, condos, and rental properties. Coverage for individual risks is provided on one of the most comprehensive coverage forms in the Florida standard market. Please visit the Olympus Insurance website olympusinsurance.com.
Brittany Eldridge, Senior Regional Sales & Marketing Manager
Email [email protected]