Major Rating Factors:
Weak overall results on stability tests (2.7 on a scale of 0 to 10) including weak risk diversification. The largest net exposure for one risk is conservative at 1.3% of capital. Good overall profitability index (5.2) with operating gains in each of the last five years. Return on equity has been low, averaging 3.0% over the past five years. Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years.
Other Rating Factors:
History of adequate reserve strength (7.0) as reserves have been consistently at an acceptable level. Excellent liquidity (8.6) with ample operational cash flow and liquid investments.
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:
Homeowners (43.7%), fire (21.8%), farmowners (16.3%), comm multi (5.7%), other (12.5%)
Licensed in:
NY
Principal Investments:
Investment grade bonds (91.5%), real estate (3.4%), common stock (0.1%), other (5.0%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
40 Main Street
Greenwich, NY 12834
Greenwich, NY 12834
Phone Number
(518) 692-2881
NAIC Number
10370
Website
Largest Affiliates
No affiliate information available.