Major Rating Factors:
Fair reserve development (3.1 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. In 2020 the two year reserve development was 16.6% deficient. Fair profitability index (4.7) with operating losses during 2020. Average return on equity over the last five years has been poor at -0.5%. Good overall results on stability tests (6.4) despite excessive premium growth and negative cash flow from operations for 2024. Other stability subfactors include potentially strong support from affiliation with AXA SA, good operational trends and excellent risk diversification.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
F - Negative cash flow.
Principal Lines of Business:
Personal/comm auto (10.5%), work comp (6.6%), fire (1.3%), other (81.6%)
Licensed in:
All states except CA
Principal Investments:
Investment grade bonds (82.6%), cash (15.3%), other (2.1%)
Corporate Info
Group Affiliation
AXA SA
Investment Rating
--
Company Address
677 Washington Blvd
Stamford, CT 06901
Stamford, CT 06901
Phone Number
(203) 964-5200
NAIC Number
12866
Website
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