About Olympus Insurance
STABILITY, STRENGTH, SERVICE
Olympus Insurance is revolutionizing the Florida homeowners’ insurance market. Our financial strength and superior service mean you can be confident that Olympus is here to stay.
The recent economic recession, combined with a challenging Florida insurance market, caused many larger insurers to leave the state. In their wake, numerous smaller companies sprouted up, assuming billions of dollars worth of “take-out” policies – even in higher risk coastal areas.
Olympus Insurance Company is a different Florida home insurance company. With our uniquely disciplined growth strategy, we chose not to assume take-out policies. We instead focused on growth from within, gradually building up our financial strength. In just three years, Olympus has become one of the most financially stable homeowner insurance partners in Florida. Whether you’re an agent or a homeowner, live inland or on the coast, doing business with us means stability, security and peace of mind.
Our focus on three core areas makes this possible:
Financial Strength
Olympus is capitalized well in excess of industry standards. As of June 30, 2010, Olympus has over $21 Million in policyholders’ surplus. Our catastrophe reinsurance program, through a panel of highly-rated reinsurers, is designed to provide financial stability and protects the solvency of the company through extreme catastrophic events. In addition, we continue to maintain a conservative level of aggregate exposure relative to our capital capacity. Our solid balance sheet and disciplined business strategy leave no doubt that we will be here when our policyholders need us.
Agent and Customer Focus
Service to both customers and agents is integral to our success. We provide a service coupled with a product and counsel. Our goal is to carefully select risk, which keeps our rates competitive. Being in a strong financial position also allows us to better manage risk, providing confidence to both agents and customers.
Experience and Expertise
Seasoned veterans with extensive experience underwriting and managing risk has bred a culture of methodic, carefully orchestrated strategy that positions Olympus Insurance for continued growth throughout the Sunshine State.
“All Floridians deserve expert insurance advice and high quality coverage at competitive rates. That’s what Olympus strives to provide each and every day.”
-- William Lowry, President, Olympus Insurance
Frequently Asked Questions
Q: What makes Olympus Insurance different?
A: When we launched in 2007, we were fully capitalized with $50 million in policy holder surplus (PHS). We are one of the few Florida insurance companies that did not engage in take-outs. Instead we chose to focus only on organic growth. We underwrite every one of our policies. In 2009, we also obtained a strong quota share reinsurance treaty, which gives us more capacity to write new business. Further evidence of our growth and stability is the fact that in December of 2009, we paid back a $16 million SBA loan leaving us with over $20 million in PHS– far in excess of state requirements.
Q: How much reinsurance does Olympus have?
A: Olympus Insurance currently carries $250 million in reinsurance. All of our carriers are rated AAA by A.M. Best (download Our Stability brochure for a complete list). Our strong quota share reinsurance treaty enhances our ability to write new business.
Q: How many properties does Olympus Insurance currently insure?
A: Olympus currently underwrites 67,000+ policies with an in-force premium of $100+ million. With our strong financial background, we have the capacity to carry $200 million of premiums in-force.
Q: Why should I choose Olympus as my Insurance partner?
A: Our business discipline, our financial strength, our PHS, our strong reinsurance positions, all mean that homeowners can have confidence that claims will be fully covered. We underwrite all of our own policies. Additionally we provide excellent customer service, which is founded on expert advice to ensure that every one of our policy holders get coverage they need. We pride ourselves not just on the services we offer, but on the relationships we build with our customers.
Q: How would an active hurricane season affect Olympus?
A: An extremely active season would challenge homeowners and insurance companies alike. Though there are no guarantees, our financial and reinsurance position mean that Olympus Insurance is well-positioned to endure a season in which there are numerous storms.
About Olympus Insurance Company
Olympus was formed in 2007 with the mission of fulfilling homeowners’ growing, unmet demand for coverage, along with superior quality service. Olympus, headquartered in Orlando, writes voluntary homeowner’s policies through a statewide network of over 2,000 agents. Approved to enter the Florida marketplace in May 2007, Olympus has received an exceptional Financial Stability Rating® of "A". For further information on our homeowner’s policies, please call 800-711-9386 or visit our company’s website at www.oigfl.com.