First Community Ins Co
Major Rating Factors:
Fair reserve development (3.7 on a scale of 0 to 10) as the level of reserves has at times been insufficient to cover claims. In 2023 and 2022 the two year reserve development was 29.6% and 34.9% deficient respectively. Fair profitability index (2.9) with operating losses during 2021, 2022 and 2023. Good liquidity (6.8) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Good overall results on stability tests (5.6) despite negative cash flow from operations for 2025 and fair risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification. The largest net exposure for one risk is acceptable at 2.0% of capital. Strong long-term capitalization index (7.2) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2022.
Stability Factors:
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:
Comm multi (3.9%), fin guar/surety (1.5%), other (94.6%)
Licensed in:
AZ, CO, CT, FL, LA, MD, MS, NC, NV, OH, SC, TX, VA, WA
Principal Investments:
Investment grade bonds (88.8%), cash (7.3%), common stock (2.2%), non investment grade bonds (0.8%), other (0.9%)
Corporate Info
Group Affiliation
Bankers Financial Corporation
Investment Rating
--
Company Address
299 1st Ave N
Saint Petersburg, FL 33701
Saint Petersburg, FL 33701
Phone Number
(727) 823-4000
NAIC Number
13990
Website
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