D
COUNTRY-WIDE INS CO
Rating Date
December 2023
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: A history of deficient reserves (1.1 on a scale of 0 to 10). Underreserving can have an adverse impact on capital and profits. In the last five years, reserves (two year development) fluctuated between 64% and 34% deficeint. Weak profitability index (1.5) with operating losses during 2021 and 2022. Average return on equity over the last five years has been poor at -5.7%.
Other Rating Factors: Weak overall results on stability tests (1.5) including weak results on operational trends and negative cash flow from operations for 2022. Fair long-term capitalization index (3.4) based on fair current risk adjusted capital (severe and moderate loss scenarios). Fair liquidity (4.3) as cash resources may not be adequate to cover a spike in claims.
Stability Factors: F - Negative cash flow. L - Past results on our liquidity tests. R - Concerns about the financial strength of its reinsurers. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Personal/comm auto (100.0%)
Licensed in: NY
Principal Investments: Investment grade bonds (97.4%), cash (1.2%), preferred stock (0.8%), common stock (0.6%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
40 Wall Street
New York, NY 10005
Phone Number
(212) 809-9300x5518
NAIC Number
10839
Largest Affiliates
No affiliate information available.
Weiss Ratings