E
SOUTHERN FIDELITY INS CO
Data as of
March 31, 2021
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: Poor long-term capitalization index (1.3 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios), although results have slipped from the excellent range over the last two years. Weak profitability index (0.2) with operating losses during 2017, 2018, 2019 and the first three months of 2021. Average return on equity over the last five years has been poor at -79.9%.
Other Rating Factors: Vulnerable liquidity (0.0) as a spike in claims may stretch capacity. Weak overall results on stability tests (0.9) including weak risk adjusted capital in prior years and negative cash flow from operations for 2020. Fair reserve development (4.5) as reserves have generally been sufficient to cover claims.
Stability Factors: C - Past results on our Risk-Adjusted Capital tests. F - Negative cash flow. G - Fast asset or premium growth. L - Past results on our liquidity tests.
Principal Lines of Business: Homeowners (67.9%), fire (30.1%), other (2.0%)
Licensed in: FL, LA, MS, SC
Principal Investments: Investment grade bonds (57.1%), cash (32.7%), real estate (8.2%), common stock (2.0%)
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
Corporate Info
Group Affiliation
Southern Fidelity Holding LLC
Investment Rating
--
Company Address
2255 Killearn Center Boulevard
Tallahassee, FL 32312
Phone Number
(850) 521-3080
NAIC Number
10136
Largest Affiliates
No affiliate information available.
Weiss Ratings