Major Rating Factors:
Poor long-term capitalization index (1.4 on a scale of 0 to 10) based on fair current risk adjusted capital (severe and moderate loss scenarios). A history of deficient reserves (2.5) that places pressure on both capital and profits. In 2025 and 2023 the one year reserve development was 91.7% and 240.4% deficient respectively. Weak profitability index (0.1) with operating losses during 2022 and 2025.
Other Rating Factors:
Weak overall results on stability tests (1.9) including weak risk adjusted capital in prior years, weak risk diversification and weak results on operational trends. The largest net exposure for one risk is excessive at 9.0% of capital. Excellent liquidity (7.6) 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.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (91.5%), comm multi (8.3%), fire (0.2%)
Licensed in:
NY
Principal Investments:
Cash (87.7%), investment grade bonds (12.3%)
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
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