First Medical Ins Co (A RRG)
Major Rating Factors:
Weak overall results on stability tests (0.8 on a scale of 0 to 10) including fair risk adjusted capital in prior years. The largest net exposure for one risk is excessive at 21.6% of capital. Fair reserve development (4.5) as reserves have generally been sufficient to cover claims. In 2025 the two year reserve development was 16.0% deficient. Fair profitability index (2.9) with operating losses during 2022 and 2024.
Other Rating Factors:
Strong long-term capitalization index (7.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2022. Excellent liquidity (7.4) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Med mal (96.6%), other (3.4%)
Licensed in:
VT
Principal Investments:
Investment grade bonds (74.7%), common stock (18.6%), cash (6.2%), non investment grade bonds (0.5%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
463 Mountain View Drive
Colchester, VT 05404
Colchester, VT 05404
Phone Number
(802) 864-5599
NAIC Number
11278
Website
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Largest Affiliates
No affiliate information available.