Major Rating Factors:
A history of deficient reserves (1.8 on a scale of 0 to 10) that places pressure on both capital and profits. In four of the last five years reserves (two year development) were between 36.7% and 55.9% deficient. Poor long-term capitalization index (2.5) based on weak current risk adjusted capital (severe loss scenarios), although results have slipped from the fair range during the last year. Fair profitability index (4.6) with operating losses during 2021 and 2024. Return on equity has been fair, averaging 5.5% over the past five years.
Other Rating Factors:
Good overall results on stability tests (6.8) despite weak risk adjusted capital in prior years and negative cash flow from operations for 2024. Stability strengths include good operational trends and excellent risk diversification. Excellent liquidity (7.4) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (28.9%), product liab. (7.3%), work comp (5.5%), med mal (0.8%), other (57.5%)
Licensed in:
All states except CA, DE, HI, ME, MN, NJ, NY, OR, SD, WI
Principal Investments:
Investment grade bonds (81.2%), cash (6.9%), preferred stock (4.3%), common stock (2.6%), other (5.0%)
Corporate Info
Group Affiliation
James River Group Holdings Ltd
Investment Rating
Company Address
6131 Falls of Neuse Road
Raleigh, NC 27609
Raleigh, NC 27609
Phone Number
(919) 882-3585
NAIC Number
11828
Largest Affiliates