SafePoint Insurance Financial Information

A.M. Best Rating

A.M. Best has assigned a financial strength rating of B (Fair) to Safepoint. Our adequate levels of capitalization, strict risk selection criteria, sophisticated pricing and comprehensive reinsurance program support this rating.

A.M. Best Company is the world’s oldest and most authoritative insurance rating information source.

Visit A.M Best on-line here.

Demotech Rating

Demotech has assigned the rating of A Exceptional to SafePoint

This financial stability rating is an indication of an insurance company’s financial strength.

According to Demotech, an A rating means Safepoint has an Exceptional ability to maintain liquidity of invested assets, quality reinsurance, acceptable financial leverage and realistic pricing while simultaneously establishing loss and loss adjustment expense reserves at reasonable levels.

For details, visit Demotech on-line here.

SafePoint also understands that one very important aspect of writing property insurance in Florida is having a strong catastrophe reinsurance program. SafePoint has finalized our reinsurance program with the following objectives:

  • All of our reinsurance carriers are approved by the Florida Department of Insurance Regulation
  • All of our Reinsurance Companies are A.M. Best Rated A or Better
  • Safepoint has purchased reinsurance in excess of conservatively modeled 100 year return on a first event basis
  • Safepoint retains no more than 10% of capital from a first event basis and 15% capitol across two events; this translates to a $2.5 million and $1 million first and second event retentions
  • Safepoint has purchased additional protection beyond the Florida Hurricane Catastrophe Fund to allow for significant second event losses

Unaudited SafePoint Insurance Company Balance Sheet

Category   Year End 2014 Year End 2013
Assets Money Market Acounts $91,796,951 $25,014,278
Statutory Deposits $8,133,449 -
Total Assets $99,930,400 $25,014,278
Liabilities Unearned Premiums $47,627,287 -
Loss Reserves $9,204,278 -
Other Liabilities $13,208,845 $15,000
Total Liabilities $70,037,410 $15,000
Capital and Surplus Capital Stock $2,550,000 $2,550,000
Additional Paid Capital $22,450,000 $22,450,000
Retained Earnings (Deficit) $4,892,990 ($722)
Total Policyholder Surplus $29,892,990 $24,999,278
Total Liabilities and Surplus $99,930,400 $25,014,278

Contact Information:

24 Hour Claims:
855-CLAIM15
Customer Service:
877-858-7445
underwriting@safepointins.com
This company was issued a rating by the A.M. Best Company, click for additional details
FSR for SAFEPOINT INSURANCE COMPANY

Customer Service

Phone: 877-858-7445
Fax: 954-837-4392
underwriting@safepointins.com
billing@safepointins.com

Payments

Safepoint Insurance Company
P.O. Box 459076
Sunrise, FL 33345-9076