Major Rating Factors:
Weak overall results on stability tests (2.1 on a scale of 0 to 10) including weak risk diversification, negative cash flow from operations for 2025 and fair risk adjusted capital in prior years. Fair reserve development (4.1) as reserves have generally been sufficient to cover claims. Good long-term capitalization index (5.4) based on good current risk adjusted capital (severe and moderate loss scenarios) reflecting some improvement over results in 2023.
Other Rating Factors:
Good overall profitability index (6.1) despite operating losses during 2023. Good liquidity (5.8) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
Principal Lines of Business:
Fin guar/surety (100.0%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (50.3%), common stock (18.0%), preferred stock (12.1%), cash (4.4%), other (15.2%)
Corporate Info
Group Affiliation
None
Investment Rating
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Company Address
Tetuan Street 206
San Juan, PR 00901
San Juan, PR 00901
Phone Number
(787) 723-2868
NAIC Number
10009
Website
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Largest Affiliates
There are no affiliate to display.