--- title: HAI Group's HARRG Earns Third Consecutive Demotech Honor, Recognized as ‘Top Achiever’ in the Insurance Industry description: For the third consecutive year, HAI Group’s Housing Authority Risk Retention Group, Inc. earned the Demotech STAR Award. image: https://blog.haigroup.com/hubfs/Imported_Blog_Media/HAI%20Group%20Office-1.jpg --- [Skip to content](https://blog.haigroup.com/hai-groups-harrg-earns-third-consecutive-demotech-honor-recognized-as-top-achiever-in-the-insurance-industry#main-content) [![hai-logo-KO-256px](https://blog.haigroup.com/hs-fs/hubfs/hai-logo-KO-256px.png?width=256&height=57&name=hai-logo-KO-256px.png "hai-logo-KO-256px")](https://www.haigroup.com/) - SEARCH - [Insurance](https://blog.haigroup.com/tag/insurance) # HAI Group's HARRG Earns Third Consecutive Demotech Honor, Recognized as ‘Top Achiever’ in the Insurance Industry ![](https://blog.haigroup.com/hubfs/Imported_Blog_Media/HAI%20Group%20Office-1.jpg) - October 12, 2023 ![Andrew Ragali | Assistant Director, Marketing and Communications | HAI Group](https://blog.haigroup.com/hubfs/Capture-2.jpg) [Andrew Ragali | Assistant Director, Marketing and Communications | HAI Group](https://blog.haigroup.com/author/andrew-ragali) [\< Back to Resource Center](https://blog.haigroup.com) For the third consecutive year and fourth time overall, HAI Group’s Housing Authority Risk Retention Group, Inc. (HARRG) earned the prestigious Demotech Stakeholder Team Accomplishment Recognition (STAR) Award. Demotech, an Ohio-based [financial analysis firm](https://www.demotech.com/) serving the insurance industry, developed the STAR Award in 2013 "to identify and recognize insurers that satisfied all stakeholders, not just a single segment of interested parties," wrote Barb Albert, executive editor of The Demotech Difference publication, in a letter to HAI Group. ## Top achiever in the insurance industry According to Albert, the 2022 operating results for 2,647 property and casualty insurers were reviewed by Demotech for the 2023 STAR Award. Only 22 insurers met the firm's criteria, including HARRG—the first insurance company established under HAI Group. "As a STAR Award winner, \[HARRG\] will be recognized as a top achiever in the insurance industry, concurrently sustaining profitability, financial stability, and stakeholder satisfaction," Albert noted. “In summary, although meeting or exceeding each of our stakeholder criteria was possible, less than 1 percent of \[property and casualty\] insurance companies did so, and \[HARRG\] was one of the elite few.” Albert explained that to earn the 2023 STAR Award, HARRG had to demonstrate statutory financial results that satisfied all the company’s stakeholders in 2022, including employees, producers, claimants, regulators, and reinsurers. ## Dedication across multiple disciplines Troy LePage, HAI Group’s chief operating officer, chief financial officer, and treasurer, said that producing financial results that satisfy all stakeholders is a balancing act that takes dedication across multiple disciplines. “Our team puts in tremendous effort to achieve the delicate equilibrium of serving our members’ and policyholders’ interests while also satisfying the requirements of our diverse partners and regulatory authorities,”’ LePage said. “Receiving this accolade from Demotech, a highly regarded assessor of insurance companies, affirms our successful execution of this balance and is a source of immense pride for us." HAI Group President and CEO Ed Malaspina said receiving the Demotech STAR Award for the fourth time is a “remarkable testament to the unwavering dedication of the entire HAI Group team.” “This achievement reflects our commitment to providing top-tier insurance solutions and our continuous pursuit of excellence in serving the public and affordable housing industry,” he said. The information presented is for general reference only. HAI Group makes no representation or warranty about the accuracy or applicability of this information for any particular use or circumstance. Your use of this information is at your own discretion and risk. HAI Group and any author or contributor identified herein assume no responsibility for your use of this information. You should consult with your legal, professional or subject matter advisor before implementing any new strategy or policy. HAI Group® is the registered trademark of Housing Authority Risk Retention Group, Inc. and its related companies. For a complete list of HAI Group companies, visit www.haigroup.com. Products or services may not be available in all jurisdictions. Certain property and casualty coverage may be provided by a risk retention group or a surplus lines insurer or by a third party. Risk retention groups and surplus lines insurers do not participate in state guaranty funds and their insureds are not protected by such funds. Don't Miss This ## Related Content [![](https://blog.haigroup.com/hubfs/Imported_Blog_Media/AriPic.png)](https://blog.haigroup.com/former-intern-spotlight-ariana-parker-hai-group-human-resources-generalist) - October 12, 2023 ### [(Former) Intern Spotlight: Ariana Parker, HAI Group Human Resources Generalist](https://blog.haigroup.com/former-intern-spotlight-ariana-parker-hai-group-human-resources-generalist) April 6, 2022 Ariana Parker works in HAI Group's Human Resources department, with a focus on recruiting top talent to work for the... 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[Read more](https://blog.haigroup.com/hai-group-employees-harvest-290-pounds-of-produce-for-local-food-pantry) ![HAI Group](https://blog.haigroup.com/hubfs/raw_assets/public/Thrifty%20child/images/hai-logo-footer.png) - [Online Privacy Policy](https://www.haigroup.com/privacy-policy/) - [California Privacy Rights](https://www.haigroup.com/wp-content/uploads/2024/11/HAI-Group-CA-Privacy-Rights-Notice-1.pdf) - [Terms of Use](https://www.haigroup.com/terms-of-use/) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Andrew Ragali | Assistant Director, Marketing and Communications | HAI Group", "url" : "https://blog.haigroup.com/author/andrew-ragali" }, "dateModified" : "2024-05-22T18:54:28.585Z", "datePublished" : "2023-10-12T04:00:00.000Z", "headline" : "HAI Group's HARRG Earns Third Consecutive Demotech Honor, Recognized as ‘Top Achiever’ in the Insurance Industry", "image" : [ "https://blog.haigroup.com/hubfs/Imported_Blog_Media/HAI%20Group%20Office-1.jpg" ], "mainEntityOfPage" : { "@id" : "https://blog.haigroup.com/hai-groups-harrg-earns-third-consecutive-demotech-honor-recognized-as-top-achiever-in-the-insurance-industry", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://blog.haigroup.com/hubfs/HAIGroup%20PMS2186C%20400X100-300dpi-1.png" }, "name" : "HARRG" } } ```