Major Rating Factors:
Weak profitability index (2.8 on a scale of 0 to 10) with operating losses during 2021, 2022 and 2024. Weak overall results on stability tests (2.1) including weak risk diversification, negative cash flow from operations for 2025 and excessive premium growth. The largest net exposure for one risk is excessive at 6.6% of capital. Fair long-term capitalization index (4.0) based on fair current risk adjusted capital (severe loss scenarios) reflecting improvement over results in 2022.
Other Rating Factors:
History of adequate reserve strength (6.4) as reserves have been consistently at an acceptable level. Good liquidity (6.5) 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.
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Personal/comm auto (73.1%), other (26.9%)
Licensed in:
VT
Principal Investments:
Investment grade bonds (44.4%), common stock (28.3%), preferred stock (6.0%), cash (2.9%), non investment grade bonds (1.5%), other (16.8%)
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
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