Ocean Harbor Casualty Ins Co
Major Rating Factors:
A history of deficient reserves (1.2 on a scale of 0 to 10). Underreserving can have an adverse impact on capital and profits. In the last five years, reserves (two year development) fluctuated between 32.4% and 76.0% deficient. Good long-term capitalization index (6.8) based on excellent current risk adjusted capital (severe loss scenarios) reflecting significant improvement over results in 2023. Good overall results on stability tests (6.3) despite fair risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification.
Other Rating Factors:
Excellent profitability index (7.1) despite operating losses during 2022. Excellent liquidity (7.2) with ample operational cash flow and liquid investments.
Stability Factors:
Principal Lines of Business:
Personal/comm auto (51.6%), homeowners (37.3%), fire (4.4%), other (6.7%)
Licensed in:
AL, CA, FL, LA, MS, NJ, NY, OK, SC, TX
Principal Investments:
Investment grade bonds (78.0%), common stock (7.5%), preferred stock (2.9%), cash (2.0%), non investment grade bonds (0.1%), other (9.5%)
Corporate Info
Group Affiliation
Milo Family 2016 Appointed Trust
Investment Rating
--
Company Address
2549 Barrington Circle
Tallahassee, FL 32308
Tallahassee, FL 32308
Phone Number
(850) 386-1115
NAIC Number
12360
Website
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