Major Rating Factors:
Poor long-term capitalization index (1.3 on a scale of 0 to 10) based on weak current risk adjusted capital (severe loss scenarios). A history of deficient reserves (1.8) that places pressure on both capital and profits. In four of the last five years reserves (two year development) were between 30.9% and 58.6% deficient. Fair profitability index (4.5) with operating losses during 2021 and 2024. Return on equity has been low, averaging 4.1% over the past five years.
Other Rating Factors:
Good overall results on stability tests (6.5) despite weak risk adjusted capital in prior years and negative cash flow from operations for 2024. Stability strengths include good operational trends and excellent risk diversification. Excellent liquidity (7.2) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
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:
Personal/comm auto (10.6%), product liab. (9.8%), work comp (1.1%), med mal (1.1%), other (77.3%)
Licensed in:
OH, VA
Principal Investments:
Investment grade bonds (92.4%), cash (3.6%), common stock (2.5%), preferred stock (0.8%), other (0.6%)
Corporate Info
Group Affiliation
James River Group Holdings Ltd
Investment Rating
Company Address
6641 West Broad Street
Richmond, VA 23230
Richmond, VA 23230
Phone Number
(804) 289-2713
NAIC Number
13685
Largest Affiliates