Major Rating Factors:
Poor long-term capitalization index (1.9 on a scale of 0 to 10) based on weak current risk adjusted capital (severe loss scenarios). Fair profitability index (3.8) with operating losses during 2023, 2024 and 2025. Good overall results on stability tests (6.8) despite weak risk adjusted capital in prior years. The largest net exposure for one risk is acceptable at 2.4% of capital.
Other Rating Factors:
Ample reserve history (9.4) that helps to protect the company against sharp claims increases. Excellent liquidity (7.8) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
Principal Lines of Business:
Work comp (37.3%), homeowners (16.5%), comm multi (8.7%), personal/comm auto (5.3%), fin guar/surety (0.4%), other (31.7%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (75.6%), common stock (23.9%), cash (0.5%)
Corporate Info
Group Affiliation
Ernest Rady Trust
Investment Rating
--
Company Address
3333 Warrenville Rd
San Diego, CA 92128
San Diego, CA 92128
Phone Number
(858) 350-2400
NAIC Number
10024
Website
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