Major Rating Factors: Poor current capitalization (0.6 on a scale of 0 to 10) based on weak risk adjusted capital (moderate loss scenario), although results have slipped from the fair range during the last year. Low quality investment portfolio (2.6) containing substantial holdings of BBB bonds in addition to significant exposure to junk bonds. Weak profitability (1.0) with operating losses during the first three months of 2022.
Other Rating Factors: Weak overall results on stability tests (0.9) including weak risk adjusted capital in prior years. Excellent liquidity (8.1).
Stability Factors: C - Past results on our Risk-Adjusted Capital tests. I - Past results on our Investment Safety Index.
Principal Lines of Business: Ind health (79.5%), group health (20.5%)
Licensed in: NY