D
Accendo Ins Co
Rating Date
June 2024
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Total
Assets
Capital
Health
Premiums
Net
Income
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Major Rating Factors: Weak profitability index (0.9 on a scale of 0 to 10) with 309.9 million in losses in the last three years. Average return on equity over the last five years has been poor at -50.0%. Weak overall results on stability tests (2.5) based on excessive premium growth during 2022, an excessive 42% enrollment growth during the period. Rating is significantly influenced by the strong financial results of CVS Health Corporation. Excellent overall capitalization (7.9) based on good current risk-adjusted capital (severe loss scenario) despite some fluctuation in capital levels.
Other Rating Factors: Excellent quality investment portfolio (8.0) containing small junk bond exposure. Excellent liquidity (7.1) with ample operational cash flow and liquid investments.
Principal Lines of Business: --
Licensed in: All states
Principal Enrollment Breakdown: --
Other Highlights
Medical Loss Ratio
Medical Expense
Per Member Per Month ($)
153
Provider Compensation ($000)
Capitation Pay
0
Fee For Service
Contractual Pay
0
Salary
0
Bonus
0
Other
--
Member Physicians
0
Enrollment
Total Patient Encounters
Physician
0
Non-Physician
0
Corporate Info
Group Affiliation
CVS Health Corporation
Investment Rating
CVS
Company Address
3148 West 3500 South
West Valley City, UT 84119
Phone Number
(615) 807-7500
NAIC Number
63444
Largest Affiliates
C
Franklin, TN - Health
B
Blue Bell, PA - Health
B
Downers Grove, IL - Health
B
Richmond, VA - Health
B
Linthicum, MD - Health