Major Rating Factors:
Fair profitability index (4.6 on a scale of 0 to 10) with operating losses during 2021, 2022, 2023 and 2024. Fair overall results on stability tests (3.6) including excessive premium growth. The largest net exposure for one risk is conservative at 1.1% of capital. Strong long-term capitalization index (7.4) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors:
History of adequate reserve strength (7.0) as reserves have been consistently at an acceptable level. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Homeowners (73.0%), farmowners (17.6%), fire (4.4%), comm multi (1.5%), other (3.5%)
Licensed in:
NC
Principal Investments:
Common stock (63.2%), cash (12.0%), investment grade bonds (6.1%), other (18.7%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
515-A West Salisbury Street
Asheboro, NC 27203
Asheboro, NC 27203
Phone Number
(336) 625-6323
NAIC Number
10720
Website
Largest Affiliates
There are no affiliate to display.