Major Rating Factors: Fair profitability index (3.5 on a scale of 0 to 10) due to a decline in earnings during 2021. Fair overall results on stability tests (4.4) based on excessive capital growth during 2021. Good quality investment portfolio (6.4) containing junk bond exposure equal to 68.4% of capital.
Other Rating Factors: Excellent overall capitalization (8.3) based on good current risk-adjusted capital (severe loss scenario) despite some fluctuation in capital levels. Excellent liquidity (7.2) with ample operational cash flow and liquid investments.
Principal Lines of Business: --
Licensed in: VT
Principal Enrollment Breakdown: --