Major Rating Factors:
Weak overall results on stability tests (2.1 on a scale of 0 to 10) including weak risk diversification. Fair profitability index (4.9) with operating losses during 2022. Return on equity has been low, averaging 1.1% over the past five years. Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors:
Ample reserve history (9.3) that helps to protect the company against sharp claims increases. 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.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Fin guar/surety (100.0%)
Licensed in:
AK, AL, AZ, GA, MD, MN, MS, MT, ND, NE, NY, PA, WV
Principal Investments:
Investment grade bonds (56.3%), cash (37.0%), common stock (6.7%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
293 Foxhurst Road
Oceanside, NY 11572
Oceanside, NY 11572
Phone Number
(516) 538-5555
NAIC Number
14051
Largest Affiliates
No affiliate information available.