Major Rating Factors:
Weak profitability (1.7 on a scale of 0 to 10) with operating losses during 2024. Return on equity has been low, averaging -41.6%. Weak overall results on stability tests (2.7) including weak results on operational trends. Fair quality investment portfolio (3.9) with large holdings of BBB rated bonds in addition to moderate junk bond exposure.
Other Rating Factors:
Good capitalization (6.6) based on good risk adjusted capital (moderate loss scenario). Excellent Liquidity (8.0).
Stability Factors:
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Ind annuities (100.0%)
Licensed in:
All states except CT, NY, PR
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
Investments in Affiliates
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
555 California St Ste 3200
Durham, NC 27713
Durham, NC 27713
Phone Number
(919) 246-3148
NAIC Number
67423
Website
Largest Affiliates
No affiliate information available.