Major Rating Factors:
Poor long-term capitalization index (1.2 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). A history of deficient reserves (1.4) that places pressure on both capital and profits. In 2024 and 2025 the two year reserve development was 45.6% and 89.1% deficient respectively. Weak overall results on stability tests (2.4) including weak risk adjusted capital in prior years, weak risk diversification and weak results on operational trends. The largest net exposure for one risk is excessive at 8.4% of capital.
Other Rating Factors:
Fair profitability index (3.4) with operating losses during 2022, 2023 and 2025. Good liquidity (6.2) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
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 (90.8%), cash (1.6%), other (7.6%)
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
There are no affiliate to display.