SOURCE: Demotech, Inc.

November 25, 2008 13:10 ET

Demotech, Inc. Downgrades Title Underwriters in LandAmerica Financial Group, Inc.

COLUMBUS, OH--(Marketwire - November 25, 2008) - Demotech, Inc. has downgraded the Financial Stability Ratings® assigned to the Title underwriters within LandAmerica Financial Group, Inc. Despite acceptable statutory insurance accounting financial statements, the downgrades were deemed necessary as a result of issues emanating at the holding company level.

Effective immediately, the following Financial Stability Ratings® are applicable to the Title insurance subsidiaries of LandAmerica Financial Group, Inc.:

Commonwealth Land Title Insurance Company                        A
LandAmerica NJ Title Insurance Company                           A
Lawyers Title Insurance Company                                  A
United Capital Title Insurance Company                           A

Demotech encourages the users of Title underwriter ratings to discern between the issues that impact the Title underwriters and the issues that impact the holding company. The departments of insurance in the appropriate states of domicile are dedicating their resources to an evaluation and resolution of this matter.

Financial Stability Ratings® of Title underwriters and Property and Casualty insurance companies can be viewed at www.demotech.com.

About Demotech, Inc.

Since 1985, Demotech, Inc., a Columbus, Ohio based financial analysis and actuarial services firm, has provided responsive services to address actuarial and financial analysis issues, whether the issues have been for a particular insurer or prevalent throughout the insurance industry. As the first company to have its rating process formally reviewed and accepted by government sponsored enterprises, Demotech has been leveling the playing field by offering Financial Stability Ratings® (FSRs) to large and small insurers.

Visit http://www.demotech.com for more information.

Contact Information

  • Joseph L. Petrelli
    President
    Email: Email Contact

    Barry J. Koestler, II, CFA
    Chief Ratings Officer
    Email: Email Contact

    Tel: (800) 354-7207

    2715 Tuller Parkway
    Dublin, Ohio 43017-2310
    Tel: 614 761-8602 / 800 354-7207
    Fax: 614 761-0906
    www.demotech.com