Major Rating Factors:
Weak profitability index (2.7 on a scale of 0 to 10) with operating losses during 2021, 2022 and 2024. Average return on equity over the last five years has been poor at -14.9%. Weak overall results on stability tests (2.1) including weak risk diversification, negative cash flow from operations for 2024 and weak risk adjusted capital in prior years. Good long-term capitalization index (6.3) based on good current risk adjusted capital (moderate loss scenarios), although results have slipped from the fair range during the last year.
Other Rating Factors:
Ample reserve history (8.4) that helps to protect the company against sharp claims increases. Superior liquidity (9.0) with ample operational cash flow and liquid investments.
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.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (73.7%), other (26.3%)
Licensed in:
VT
Principal Investments:
Investment grade bonds (40.3%), common stock (22.8%), cash (14.9%), preferred stock (6.0%), non investment grade bonds (1.3%), other (14.8%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
1605 Main Street
Sarasota, FL 34236
Sarasota, FL 34236
Phone Number
(941) 373-1162
NAIC Number
11590
Largest Affiliates
No affiliate information available.