Major Rating Factors:
Poor long-term capitalization index (1.4 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). Weak overall results on stability tests (2.5) including weak risk adjusted capital in prior years, weak risk diversification and negative cash flow from operations for 2024. The largest net exposure for one risk is high at 3.5% of capital. Fair reserve development (3.6) as reserves have generally been sufficient to cover claims. In 2024 the two year reserve development was 45.6% deficient.
Other Rating Factors:
Good overall profitability index (5.0) despite operating losses during 2022 and 2023. Return on equity has been fair, averaging 5.1% over the past five years. Excellent liquidity (7.1) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Other (100%)
Licensed in:
AL
Principal Investments:
Investment grade bonds (85.5%), cash (14.5%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
1605 Main Street
Sarasota, FL 34236
Sarasota, FL 34236
Phone Number
(941) 373-1102
NAIC Number
12631
Website
Largest Affiliates
No affiliate information available.