E
OPTIMA SEGUROS
Rating Date
December 2023
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: Weak overall results on stability tests (0.0 on a scale of 0 to 10) including weak results on operational trends. The largest net exposure for one risk is excessive at 59.3% of capital. Good liquidity (6.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors: Strong long-term capitalization index (7.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Ample reserve history (9.4) that helps to protect the company against sharp claims increases. Excellent profitability (7.4) with operating gains in each of the last five years. Return on equity has been excellent over the last five years averaging 15.2%.
Stability Factors: 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: Personal/comm auto (34.6%), comm multi (34.4%), fire (4.6%), fin guar/surety (0.7%), homeowners (0.3%), product liab. (0.2%), other (25.3%)
Licensed in: No States
Principal Investments: Investment grade bonds (83.6%), cash (6.4%), common stock (4.6%), real estate (3.6%), other (1.9%)
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
QBE Ins Group Ltd
Investment Rating
--
Company Address
1101 Munoz Rivera Ave
SAN JUAN, PR 925
Phone Number
(787) 765-2100
NAIC Number
10140
Largest Affiliates
B
HARRISBURG, PA - P&C
B
SUN PRAIRIE, WI - P&C
C
RAMSEY, MN - P&C
B
HARRISBURG, PA - P&C
B
BISMARCK, ND - P&C
Weiss Ratings