Major Rating Factors:
Fair reserve development (4.4 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair profitability index (3.7) with operating losses during 2023 and 2024. Average return on equity over the last five years has been poor at -0.4%. Good long-term capitalization index (6.2) based on good current risk adjusted capital (severe loss scenarios), although results have slipped from the excellent range during the last year.
Other Rating Factors:
Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (6.0) despite fair risk adjusted capital in prior years. The largest net exposure for one risk is high at 3.5% of capital. Stability strengths include good operational trends and excellent risk diversification.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (11.4%), work comp (1.2%), med mal (1.1%), comm multi (1.0%), personal/comm auto (0.8%), other (84.4%)
Licensed in:
FL, IA, IL, LA, MD, NY
Principal Investments:
Investment grade bonds (87.0%), cash (3.1%), non investment grade bonds (0.2%), other (9.8%)
Corporate Info
Group Affiliation
None
Investment Rating
Company Address
1095 Avenue of the Americas
New York, NY 10036
New York, NY 10036
Phone Number
(212) 238-9600
NAIC Number
10357
Website
Largest Affiliates
No affiliate information available.