Major Rating Factors:
Good overall profitability index (6.4 on a scale of 0 to 10) despite operating losses during 2023. Excellent expense controls. Good overall results on stability tests (5.7) despite excessive premium growth. Other stability subfactors include potentially strong support from affiliation with Auto Club Ins Association Group, good operational trends, good risk adjusted capital for prior years and excellent risk diversification. Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2020.
Other Rating Factors:
History of adequate reserve strength (6.9) as reserves have been consistently at an acceptable level. Superior liquidity (9.1) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
Principal Lines of Business:
Personal/comm auto (58.9%), homeowners (40.2%), other (0.9%)
Licensed in:
NC
Principal Investments:
Cash (46.8%), investment grade bonds (19.3%), other (34.0%)
Corporate Info
Group Affiliation
Auto Club Ins Association Group
Investment Rating
--
Company Address
3426 Toringdon Way
Charlotte, NC 28277
Charlotte, NC 28277
Phone Number
(336) 771-0400
NAIC Number
12617
Website
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