Granite Security Ins Co
Major Rating Factors:
Fair reserve development (3.6 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair overall results on stability tests (3.5) including excessive premium growth. Strengths include potentially strong support from affiliation with Vermont Mutual Ins Co. Good profitability index (4.9) with small operating losses during 2022. Excellent expense controls. Return on equity has been low, averaging 1.1% over the past five years.
Other Rating Factors:
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. Excellent liquidity (7.0) 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:
Other (100%)
Licensed in:
NH, VT
Principal Investments:
Investment grade bonds (97.4%), cash (1.5%), common stock (0.5%), other (0.6%)
Corporate Info
Group Affiliation
Vermont Mutual Ins Co
Investment Rating
--
Company Address
89 State Street
Montpelier, VT 05602
Montpelier, VT 05602
Phone Number
(802) 223-2341
NAIC Number
14095
Website
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