Major Rating Factors:
Weak overall results on stability tests (1.2 on a scale of 0 to 10) including weak results on operational trends, weak risk diversification and fair risk adjusted capital in prior years. Fair reserve development (3.5) as the level of reserves has at times been insufficient to cover claims. In 2023 and 2022 the two year reserve development was 30.9% and 33.5% deficient respectively. Fair profitability index (3.7) with operating losses during 2021 and 2022. Average return on equity over the last five years has been poor at -2.8%.
Other Rating Factors:
Good long-term capitalization index (5.9) based on excellent current risk adjusted capital (severe loss scenarios) reflecting significant improvement over results in 2022. Superior liquidity (10.0) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
G - Fast asset or premium growth.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (100.0%)
Licensed in:
HI
Principal Investments:
Cash (53.5%), other (46.5%)
Corporate Info
Group Affiliation
None
Investment Rating
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Company Address
999 Bishop Street
Honolulu, HI 96813
Honolulu, HI 96813
Phone Number
(808) 533-4900
NAIC Number
13988
Website
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Largest Affiliates
No affiliate information available.