Major Rating Factors:
Fair profitability index (3.2 on a scale of 0 to 10) with operating losses during 2025. Weak overall results on stability tests (2.8) including weak results on operational trends and negative cash flow from operations for 2025. Good long-term capitalization index (5.3) based on good current risk adjusted capital (severe loss scenarios), although results have slipped from the excellent range during the last year.
Other Rating Factors:
History of adequate reserve strength (6.8) as reserves have been consistently at an acceptable level. Good liquidity (6.4) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
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.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (96.4%), other (3.6%)
Licensed in:
GA, IN, KY, MI
Principal Investments:
Investment grade bonds (77.2%), common stock (17.8%), cash (3.3%), other (1.6%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
603 South Washington Avenue
Lansing, MI 48933
Lansing, MI 48933
Phone Number
(517) 372-5656
NAIC Number
12471
Largest Affiliates
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