Major Rating Factors:
Fair reserve development (4.6 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair profitability index (4.4) with operating losses during each of the last five years. Weak overall results on stability tests (2.6) including excessive premium growth, weak risk diversification and negative cash flow from operations for 2025.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
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.
Principal Lines of Business:
Reinsurance (100.0%)
Licensed in:
All states except CO, CT, ID, IL, MA, ME, MI, MO, NE, NH, SC, VT, WY
Principal Investments:
Investment grade bonds (45.9%), cash (12.0%), other (42.1%)
Corporate Info
Group Affiliation
None
Investment Rating
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Company Address
350 10th Avenue
San Diego, CA 92101
San Diego, CA 92101
Phone Number
(619) 866-6505
NAIC Number
12319
Website
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Largest Affiliates
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