Major Rating Factors:
Weak overall results on stability tests (1.5 on a scale of 0 to 10) including weak risk adjusted capital in prior years. The largest net exposure for one risk is excessive at 17.3% of capital. Fair long-term capitalization index (3.5) based on fair current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2022. Fair reserve development (3.9) as the level of reserves has at times been insufficient to cover claims. In 2021 and 2022 the two year reserve development was 25.4% and 43.0% deficient respectively.
Other Rating Factors:
Fair profitability index (4.5) with operating losses during 2021 and 2024. Return on equity has been fair, averaging 6.3% over the past five years. Good liquidity (6.8) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Other (100%)
Licensed in:
NY
Principal Investments:
Investment grade bonds (50.2%), common stock (22.5%), preferred stock (10.0%), cash (7.2%), other (10.2%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
One Battery Park Plaza
New York, NY 10004
New York, NY 10004
Phone Number
(212) 847-4500
NAIC Number
13366
Website
Largest Affiliates
No affiliate information available.