ASI PREFERRED INS CORP
Major Rating Factors:
Strong long-term capitalization index (9.5 on a scale of 0 to 10) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Furthermore, this high level of risk adjusted capital has been consistently maintained in previous years. Good liquidity (6.1) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Good overall results on stability tests (5.6) despite weak results on operational trends and negative cash flow from operations for 2022. Fair reserve development (4.4) as reserves have generally been sufficient to cover claims. Fair profitability index (3.0) with operating losses during 2019, 2020, 2021 and 2022. Average return on equity over the last five years has been poor at -5.7%.
Stability Factors:
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (81.9%), fire (4.2%), other (13.9%)
Licensed in:
FL, MA
Principal Investments:
Investment grade bonds (99.2%), other (0.8%)
Corporate Info
Group Affiliation
Progressive Corp
Investment Rating
Company Address
1 Asi Way
ST. PETERSBURG, FL 33702
ST. PETERSBURG, FL 33702
Phone Number
(727) 821-8765
NAIC Number
13142
Website
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