Major Rating Factors:
Fair reserve development (3.0 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 (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (7.8) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2021.
Other Rating Factors:
Excellent profitability index (7.1) despite operating losses during 2020. Return on equity has been good over the last five years, averaging 11.2%. Excellent overall results on stability tests (6.9) despite. Stability strengths include good operational trends, good risk adjusted capital for prior years and excellent risk diversification.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (68.7%), fire (4.1%), personal/comm auto (0.1%), other (27.1%)
Licensed in:
FL, GA, SC
Principal Investments:
Investment grade bonds (52.6%), other (47.4%)
Corporate Info
Group Affiliation
None
Investment Rating
Company Address
5426 Bay Center Drive
Tampa, FL 33609
Tampa, FL 33609
Phone Number
(813) 880-7000
NAIC Number
12841
Website
Largest Affiliates
No affiliate information available.