Major Rating Factors:
Poor long-term capitalization index (0.0 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). Weak profitability index (0.0) with operating losses during 2020, 2022 and the first six months of 2025. Return on equity has been fair, averaging 37.1% over the past five years. Weak overall results on stability tests (0.0) including weak risk adjusted capital in prior years, weak risk diversification and weak results on operational trends.
Other Rating Factors:
Fair reserve development (3.5) as the level of reserves has at times been insufficient to cover claims. In 2022 and 2024 the two year reserve development was 91.4% and 356.0% deficient respectively. Excellent liquidity (8.5) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (93.0%), comm multi (6.8%), fire (0.3%)
Licensed in:
NY
Principal Investments:
Cash (88.4%), investment grade bonds (11.6%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
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Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
Six West 18th Street
New York, NY 10011
New York, NY 10011
Phone Number
(212) 629-8838
NAIC Number
10088
Website
Largest Affiliates
No affiliate information available.