Major Rating Factors:
Poor long-term capitalization index (1.9 on a scale of 0 to 10) based on weak current risk adjusted capital (severe loss scenarios), although results have slipped from the fair range during the last year. Weak overall results on stability tests (2.7) including weak risk adjusted capital in prior years and weak risk diversification. The largest net exposure for one risk is high at 4.2% of capital. Fair reserve development (4.3) as the level of reserves has at times been insufficient to cover claims. The one year reserve development was deficient in three of the last five years by between 16.7% and 33.3%.
Other Rating Factors:
Fair profitability index (2.9) with operating losses during 2021, 2022 and 2025. Excellent liquidity (7.4) 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.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Other (100%)
Licensed in:
VT
Principal Investments:
Investment grade bonds (60.4%), common stock (16.7%), cash (12.6%), preferred stock (1.0%), non investment grade bonds (0.1%), other (9.1%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
1605 Main Street
Sarasota, FL 34236
Sarasota, FL 34236
Phone Number
(941) 955-0793
NAIC Number
11973
Website
Largest Affiliates
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