Major Rating Factors:
Poor long-term capitalization index (1.2 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). A history of deficient reserves (2.8). Underreserving can have an adverse impact on capital and profits. In 2024 and 2023 the two year reserve development was 41.0% and 49.1% deficient respectively. Weak profitability index (2.3) with operating losses during 2021, 2022 and 2023. Average return on equity over the last five years has been poor at -17.1%.
Other Rating Factors:
Fair overall results on stability tests (3.3) including weak risk adjusted capital in prior years and negative cash flow from operations for 2024. 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 (62.5%), homeowners (37.5%)
Licensed in:
AZ
Principal Investments:
Cash (30.3%), real estate (15.2%), investment grade bonds (2.9%), other (51.6%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
2500 North 24th Street
Phoenix, AZ 85008
Phoenix, AZ 85008
Phone Number
(877) 603-1310
NAIC Number
13930
Largest Affiliates
No affiliate information available.