PURE INS CO
Major Rating Factors:
Weak profitability index (1.4 on a scale of 0 to 10) with operating losses during 2017, 2019, 2020 and 2021. Average return on equity over the last five years has been poor at -9.2%. Weak overall results on stability tests (2.3) including negative cash flow from operations for 2021. The largest net exposure for one risk is high at 4.0% of capital.
Other Rating Factors:
Fair reserve development (3.7) as reserves have generally been sufficient to cover claims. Good liquidity (6.5) with sufficient resources (cash flows and marketable investments) to handle a spike in 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.
Stability Factors:
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 (81.9%), non investment grade bonds (2.7%), cash (1.0%), preferred stock (0.2%), other (14.2%)
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) 255-5755
NAIC Number
13204
Website
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