Major Rating Factors:
Fair current capitalization (3.6 on a scale of 0 to 10) based on fair risk adjusted capital (moderate loss scenario), although results have slipped from the good range over the last two years. Low quality investment portfolio (2.1) containing substantial holdings of BBB bonds in addition to junk bond exposure equal to 88% of capital. Exposure to mortgages is large, but the mortgage default rate has been low. Weak profitability (2.0) with investment income below regulatory standards in relation to interest assumptions of reserves.
Other Rating Factors:
Weak overall results on stability tests (1.6) including weak results on operational trends. Good Liquidity (6.5).
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
I - Past results on our Investment Safety Index.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Other (100%)
Licensed in:
All states except NY, VT, 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
Penn Mutual Life Ins Company
Investment Rating
--
Company Address
16479 Dallas Parkway Suite 850
DENVER, CO 80202
DENVER, CO 80202
Phone Number
(888) 295-3815
NAIC Number
68446
Website
Largest Affiliates