PURE INS CO
Major Rating Factors:
Weak profitability index (1.6 on a scale of 0 to 10) with operating losses during 2019, 2020 and 2021. Average return on equity over the last five years has been poor at -8.9%. Weak overall results on stability tests (2.8) including weak results on operational trends and negative cash flow from operations for 2022. The largest net exposure for one risk is high at 3.9% of capital.
Other Rating Factors:
Fair reserve development (4.4) as reserves have generally been sufficient to cover claims. 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 (8.7) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Reinsurance (100.0%)
Licensed in:
FL
Principal Investments:
Investment grade bonds (90.4%), cash (2.9%), non investment grade bonds (2.8%), preferred stock (0.2%), other (3.7%)
Corporate Info
Group Affiliation
PURE Companies Group
Investment Rating
--
Company Address
800 Corporate Drive Suite 420
Fort Lauderdale, FL 33334
Fort Lauderdale, FL 33334
Phone Number
(914) 328-7388
NAIC Number
13204
Website
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