Major Rating Factors:
Fair profitability index (4.6 on a scale of 0 to 10) with operating losses during 2021 and 2022. Average return on equity over the last five years has been poor at -1.7%. Strong long-term capitalization index (7.2) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2022. Ample reserve history (9.6) that helps to protect the company against sharp claims increases.
Other Rating Factors:
Excellent liquidity (7.3) with ample operational cash flow and liquid investments. Excellent overall results on stability tests (7.0) despite. Stability strengths include excellent operational trends, good risk adjusted capital for prior years and excellent risk diversification.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (100.0%)
Licensed in:
All states except ND, OH, OR, WA, WY
Principal Investments:
Investment grade bonds (98.1%), cash (1.0%), common stock (0.1%), other (0.8%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
--
Corporate Info
Group Affiliation
Maine Employers Mutual Ins Co
Investment Rating
--
Company Address
261 Commercial Street
Portland, ME 04101
Portland, ME 04101
Phone Number
(207) 791-3300
NAIC Number
14164
Website
Largest Affiliates