Vasa-Spring Garden Mutl Ins Co
Major Rating Factors:
Weak overall results on stability tests (2.4 on a scale of 0 to 10) including excessive premium growth and weak risk diversification. The largest net exposure for one risk is excessive at 6.8% of capital. History of adequate reserve strength (6.3) as reserves have been consistently at an acceptable level. Good overall profitability index (5.7) despite operating losses during 2022 and 2023.
Other Rating Factors:
Strong long-term capitalization index (9.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. 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.
G - Fast asset or premium growth.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Fire (50.6%), other (49.4%)
Licensed in:
MN
Principal Investments:
Investment grade bonds (72.5%), common stock (12.3%), cash (10.7%), non investment grade bonds (1.2%), real estate (0.5%), other (2.8%)
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
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