Major Rating Factors:
Fair reserve development (3.4 on a scale of 0 to 10) as the level of reserves has at times been insufficient to cover claims. In four of the last five years reserves (two year development) were between 22.5% and 57.6% deficient. Good liquidity (6.5) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (7.4) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2021.
Other Rating Factors:
Excellent profitability index (8.9). Excellent overall results on stability tests (6.9) despite excessive premium growth. Stability strengths include good operational trends, good risk adjusted capital for prior years and excellent risk diversification.
Stability Factors:
Principal Lines of Business:
Homeowners (70.7%), fire (9.4%), personal/comm auto (0.1%), other (19.7%)
Licensed in:
FL, GA, NC, SC
Principal Investments:
Investment grade bonds (61.9%), other (38.1%)
Corporate Info
Group Affiliation
None
Investment Rating
Company Address
3000 Bayport Drive
Tampa, FL 33607
Tampa, FL 33607
Phone Number
(813) 880-7000
NAIC Number
12841
Website
Largest Affiliates
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