Major Rating Factors:
Strong long-term capitalization index (7.1 on a scale of 0 to 10) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2020. Ample reserve history (8.2) that helps to protect the company against sharp claims increases. Excellent profitability index (8.6).
Other Rating Factors:
Good liquidity (6.4) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (6.2) despite fair risk adjusted capital in prior years. Stability strengths include good operational trends and good risk diversification.
Stability Factors:
L - Past results on our liquidity tests.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Comm multi (61.9%), homeowners (14.9%), personal/comm auto (4.9%), fin guar/surety (3.2%), fire (0.2%), other (15.0%)
Licensed in:
PR
Principal Investments:
Investment grade bonds (62.0%), common stock (26.3%), cash (9.1%), non investment grade bonds (0.3%), preferred stock (0.2%), other (2.2%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
Edificio Ochoa
San Juan, PR 00901
San Juan, PR 00901
Phone Number
(787) 474-4900
NAIC Number
10308
Website
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