D
Security Plan Fire Ins Co
AustinTX
Rating Date
June 2025
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 profitability index (2.6 on a scale of 0 to 10) with operating losses during 2019, 2020, 2021, 2023 and the first three months of 2025. Average return on equity over the last five years has been poor at -15.0%. Weak overall results on stability tests (2.0) including weak results on operational trends and negative cash flow from operations for 2024. Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors: Ample reserve history (8.2) that helps to protect the company against sharp claims increases. Excellent liquidity (7.0) 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. F - Negative cash flow. R - Concerns about the financial strength of its reinsurers. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Fire (40.0%), other (60.0%)
Licensed in: (No states)
Principal Investments: Investment grade bonds (96.6%), cash (1.4%), other (2.0%)
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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
Citizens Inc
Investment Rating
CIA
Company Address
11815 Alterra Parkway
Austin, TX 78758
Phone Number
(512) 837-7100
NAIC Number
10246
Largest Affiliates
D
Donaldsonville, LA - L&A