Major Rating Factors: Fair overall results on stability tests (4.7 on a scale of 0 to 10). Good overall profitability index (6.8) despite a decline in earnings during 2021. Good overall capitalization (6.4) based on fair current risk-adjusted capital (severe loss scenario).
Other Rating Factors: Excellent quality investment portfolio (9.9) containing small junk bond exposure. Excellent liquidity (7.4) with ample operational cash flow and liquid investments.
Principal Lines of Business: --
Licensed in: MI, OH
Principal Enrollment Breakdown: --