Major Rating Factors:
Good Liquidity (6.8 on a scale of 0 to 10) with sufficient resources to handle a spike in claims. Fair overall results on stability tests (3.4) including weak results on operational trends, Weak risk diversification, small group asset base and negative cash flow from operations for 2022. Weak profitability (1.0) with operating losses during 2022. Return on equity has been low, averaging -28.2%.
Other Rating Factors:
Strong capitalization (10.0) based on excellent risk adjusted capital (severe loss scenario). High quality investment portfolio (9.1).
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Group health (126.2%)
Licensed in:
All states except HI, PR