C
Magna Ins Co
Rating Date
January 2026
NAIC
Classification
Health
Risk Adjusted
Capital Ratio #1
3.76
Risk Adjusted
Capital Ratio #2
3.13
Total
Assets
11.45M
Capital
7.86M
Health
Premiums
13.47M
Net
Income
2.45M
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Major Rating Factors: Fair quality investment portfolio (4.6 on a scale of 0 to 10). Fair overall results on stability tests (4.8) in spite of consistent premium and capital growth in the last five years but poor risk diversification due to the company's size and rapid enrollment growth during the past five years. Excellent profitability (8.2) despite operating losses during 2019.
Other Rating Factors: Excellent capitalization (10.0) based on excellent current risk-adjusted capital (severe loss scenario) reflecting significant improvement over results in 2020. Excellent liquidity (8.0) with ample operational cash flow and liquid investments.
Principal Lines of Business: --
Licensed in: AL, AR, FL, IL, IN, KY, LA, MO, MS, SC, TN, TX
Principal Enrollment Breakdown: --
Other Highlights
Medical Loss Ratio
44.28%
Medical Expense
Per Member Per Month ($)
5
Provider Compensation ($000)
Capitation Pay
0
Fee For Service
0
Contractual Pay
0
Salary
0
Bonus
0
Other
--
Member Physicians
0
Enrollment
170,243
Total Patient Encounters
Physician
0
Non-Physician
0
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
895 Park Avenue
Mandeville, LA 70448
Phone Number
(985) 327-5502
NAIC Number
61018
Website
--
Largest Affiliates
No affiliate information available.