Major Rating Factors:
Strong long-term capitalization index (10.0 on a scale of 0 to 10) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Furthermore, this high level of risk adjusted capital has been consistently maintained in previous years. Ample reserve history (9.2) that helps to protect the company against sharp claims increases. Excellent liquidity (7.9) with ample operational cash flow and liquid investments.
Other Rating Factors:
Excellent overall results on stability tests (7.6). Stability strengths include excellent operational trends and excellent risk diversification. Fair profitability index (3.8) with operating losses during 2023 and 2024. Return on equity has been low, averaging 1.1% over the past five years.
Stability Factors:
L - Past results on our liquidity tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (37.3%), comm multi (19.8%), homeowners (15.3%), farmowners (13.8%), work comp (8.1%), fire (0.7%), other (5.0%)
Licensed in:
IA, IL, IN, KY, MI, OH, PA, TN, WI
Principal Investments:
Investment grade bonds (67.7%), common stock (26.0%), cash (1.3%), real estate (1.0%), preferred stock (0.8%), non investment grade bonds (0.3%), other (2.8%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
404 East Woodlawn Avenue
Hastings, MI 49058
Hastings, MI 49058
Phone Number
(800) 442-8277
NAIC Number
14176
Website
Largest Affiliates
No affiliate information available.