Major Rating Factors:
Weak overall results on stability tests (2.1 on a scale of 0 to 10) including weak results on operational trends, weak risk diversification and fair risk adjusted capital in prior years. The largest net exposure for one risk is conservative at 1.5% of capital. Fair profitability index (3.8) with operating losses during 2022, 2023, 2024 and the first six months of 2025. Average return on equity over the last five years has been poor at -0.4%. Fair long-term capitalization index (4.8) based on fair current risk adjusted capital (severe loss scenarios), although results have slipped from the excellent range during the last year.
Other Rating Factors:
Ample reserve history (9.1) that helps to protect the company against sharp claims increases. Excellent liquidity (7.4) 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:
Homeowners (85.3%), farmowners (10.4%), fire (2.8%), other (1.5%)
Licensed in:
NC
Principal Investments:
Cash (45.2%), common stock (42.6%), investment grade bonds (6.8%), real estate (1.5%), other (3.9%)
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
Largest Affiliates
No affiliate information available.