Major Rating Factors:
Weak overall results on stability tests (2.5 on a scale of 0 to 10) including weak results on operational trends and negative cash flow from operations for 2022. Fair profitability index (4.2) with operating losses during 2018 and 2022.
Other Rating Factors:
History of adequate reserve strength (6.1) as reserves have been consistently at an acceptable level. Good liquidity (6.2) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (8.7) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Stability Factors:
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (56.3%), comm multi (23.5%), farmowners (12.4%), fire (3.8%), other (4.1%)
Licensed in:
PA, VA
Principal Investments:
Investment grade bonds (60.3%), common stock (28.8%), non investment grade bonds (3.6%), cash (3.4%), real estate (1.3%), preferred stock (1.1%), other (1.4%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
15609 High Street
Waterford, VA 20197
Waterford, VA 20197
Phone Number
(540) 882-3232
NAIC Number
10329
Website
Largest Affiliates
