Vasa-Spring Garden Mutl Ins Co
Major Rating Factors:
Weak overall results on stability tests (2.2 on a scale of 0 to 10) including weak risk diversification and negative cash flow from operations for 2024. The largest net exposure for one risk is excessive at 7.4% of capital. Fair profitability index (3.7) with operating losses during 2022 and 2023. Average return on equity over the last five years has been poor at -1.8%. History of adequate reserve strength (5.8) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Strong long-term capitalization index (9.3) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Excellent liquidity (7.6) 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:
Fire (50.3%), other (49.7%)
Licensed in:
MN
Principal Investments:
Investment grade bonds (85.6%), common stock (11.5%), non investment grade bonds (1.4%), cash (0.6%), real estate (0.5%), other (0.5%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
137 North Fourth Street
Cannon Falls, MN 55009
Cannon Falls, MN 55009
Phone Number
(507) 263-0174
NAIC Number
11038
Website
Largest Affiliates
No affiliate information available.