Major Rating Factors:
Weak profitability index (2.6 on a scale of 0 to 10) with operating losses during 2022, 2023 and 2024. Weak overall results on stability tests (2.2) including weak risk diversification and excessive premium growth. The largest net exposure for one risk is excessive at 7.9% of capital. History of adequate reserve strength (5.9) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Strong long-term capitalization index (8.3) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2024. Excellent liquidity (7.6) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Fire (35.0%), other (65.0%)
Licensed in:
MN
Principal Investments:
Investment grade bonds (65.9%), cash (32.0%), real estate (1.9%), common stock (0.2%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
228 Chestnut Avenue
Carlton, MN 55718
Carlton, MN 55718
Phone Number
(218) 384-2053
NAIC Number
12465
Website
Largest Affiliates
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