Major Rating Factors:
Poor long-term capitalization index (2.9 on a scale of 0 to 10) based on fair current risk adjusted capital (severe loss scenario). A history of deficient reserves (1.9). Underreserving can have an adverse impact on capital and profits. In four of the last five years reserves (two year development) were between 22% and 46% deficient.
Other Rating Factors:
Weak overall results on stability tests (2.1) including weak results on operational trends. Good overall profitability index (6.6). Good expense controls. Return on equity has been good over the last five years, averaging 10.5%. Excellent liquidity (8.3) with ample operational cash flow and liquid investments.
Stability Factors:
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:
Personal/comm auto (50.9%), work comp (40.9%), other (8.3%)
Licensed in:
FL
Principal Investments:
Cash (89.5%), investment grade bonds (10.0%), non investment grade bonds (0.5%)
Corporate Info
Group Affiliation
Ascendant Holdings LLC
Investment Rating
--
Company Address
2199 Ponce De Leon Blvd Ste 50
Coral Gables, FL 33134
Coral Gables, FL 33134
Phone Number
(305) 820-4360
NAIC Number
13683
Website
Largest Affiliates
No affiliate information available.
