D
AMERICAN EXCESS INS EXCHANGE RRG
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: Poor long-term capitalization index (2.0 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios), although results have slipped from the fair range over the last two years. Weak profitability index (2.2) with operating losses during 2018, 2019 and 2022.
Other Rating Factors: Weak overall results on stability tests (0.9) including weak results on operational trends and weak risk adjusted capital in prior years. The largest net exposure for one risk is excessive at 21.4% of capital. Fair reserve development (3.7) 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. 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. R - Concerns about the financial strength of its reinsurers. T - Significant trends in critical asset, liability, income or expense items.
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 (68.8%), common stock (25.9%), cash (1.1%), non investment grade bonds (0.4%), other (3.8%)
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
150 DORSET STREET PMB #238
S. BURLINGTON, VT 5403
Phone Number
(414) 369-5033
NAIC Number
10903
Largest Affiliates
No affiliate information available.
Weiss Ratings