SONS OF NORWAY
Major Rating Factors:
Low quality investment portfolio (2.2 on a scale of 0 to 10) containing large holdings of BBB rated bonds in addition to junk bond exposure equal to 53% of capital. Weak profitability (1.2) with operating losses during the first nine months of 2024. Weak Liquidity (1.2) as a spike in claims or a run on policy withdrawals may stretch capacity.
Other Rating Factors:
Weak overall results on stability tests (1.5) including negative cash flow from operations for 2023. Good capitalization (5.1) based on good risk adjusted capital (moderate loss scenario).
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
I - Past results on our Investment Safety Index.
L - Past results on our liquidity tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Other (100%)
Licensed in:
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Investments
Invested Assets
Cash
CMO & Structured Securities
Other Investment Grade Bonds
Non-Investment Grade Bonds
Common & Preferred Stock
Mortgages in Good Standing
Non-Performing Mortgages
Real Estate
Other Investments
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Investments in Affiliates
Corporate Info
Group Affiliation
None
Investment Rating
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Company Address
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Phone Number
(612) 827-3611
NAIC Number
57142
Website
Largest Affiliates
No affiliate information available.