AMERICAN EXCESS INS EXCHANGE RRG
Major Rating Factors:
Weak overall results on stability tests (0.4 on a scale of 0 to 10) including negative cash flow from operations for 2021. The largest net exposure for one risk is excessive at 20.7% of capital. Fair long-term capitalization index (3.1) based on weak current risk adjusted capital (severe and moderate loss scenarios), although results have slipped from the fair range during the last year.
Other Rating Factors:
Fair reserve development (3.4) as the level of reserves has at times been insufficient to cover claims. In 2020 and 2019 the two year reserve development was 20% and 22% deficient respectively. Fair profitability index (3.2) with operating losses during 2018, 2019 and the first six months of 2022. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Med mal (94.8%), other (5.2%)
Licensed in:
All states except AL, CT, DE, NJ, PR
Principal Investments:
Investment grade bonds (66.8%), common stock (27.1%), cash (1.1%), non investment grade bonds (0.4%), other (4.6%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
150 DORSET STREET PMB #238
S. BURLINGTON, VT 5403
S. BURLINGTON, VT 5403
Phone Number
(858) 481-2727
NAIC Number
10903
Website
Largest Affiliates
No affiliate information available.
