Major Rating Factors:
Weak overall results on stability tests (2.1 on a scale of 0 to 10) including excessive premium growth, weak results on operational trends and weak risk diversification. Fair profitability index (3.8) with operating losses during 2022, 2023 and 2024. Fair long-term capitalization index (4.7) 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. Good liquidity (7.0) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
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.