Major Rating Factors:
Fair profitability index (3.4 on a scale of 0 to 10) with operating losses during 2021, 2022, 2023 and 2024. Average return on equity over the last five years has been poor at -2.7%. Fair overall results on stability tests (3.4) including negative cash flow from operations for 2024. The largest net exposure for one risk is conservative at 1.2% 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. Excellent liquidity (7.2) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
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 (70.9%), farmowners (18.4%), fire (5.2%), comm multi (1.6%), other (3.9%)
Licensed in:
NC
Principal Investments:
Common stock (59.6%), investment grade bonds (9.9%), cash (9.3%), other (21.3%)
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
No affiliate information available.