Major Rating Factors:
Weak overall results on stability tests (2.1 on a scale of 0 to 10) including weak results on operational trends, excessive premium growth and weak risk diversification. Good long-term capitalization index (6.3) based on fair current risk adjusted capital (moderate loss scenarios), although results have slipped from the good range during the last year. Good overall profitability index (5.8) despite operating losses during 2022, 2023 and 2024.
Other Rating Factors:
Good liquidity (6.2) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Ample reserve history (9.1) that helps to protect the company against sharp claims increases.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
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:
Homeowners (88.5%), farmowners (8.6%), fire (1.9%), other (1.0%)
Licensed in:
NC
Principal Investments:
Common stock (45.1%), investment grade bonds (32.1%), cash (18.4%), real estate (1.2%), other (3.2%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
201 East King Street
King, NC 27021
King, NC 27021
Phone Number
(336) 759-2176
NAIC Number
14021
Website
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