Major Rating Factors:
Good liquidity (6.1 on a scale of 0 to 10) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (5.9) despite negative cash flow from operations for 2025. Other stability subfactors include potentially strong support from affiliation with RetailFirst Mutual Holdings Inc, good operational trends and excellent risk diversification. Fair reserve development (4.7) as reserves have generally been sufficient to cover claims.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Excellent profitability index (8.7). Excellent expense controls.
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:
Work comp (100.0%)
Licensed in:
DC, DE, FL, GA, IN, KY, NC, SC, TN, VA
Principal Investments:
Investment grade bonds (89.5%), cash (1.6%), other (8.9%)
Corporate Info
Group Affiliation
RetailFirst Mutual Holdings Inc
Investment Rating
--
Company Address
117 North Massachusetts Avenue
Lakeland, FL 33801
Lakeland, FL 33801
Phone Number
(863) 665-6060
NAIC Number
11697
Largest Affiliates