GuideOne Specialty Ins Co
Major Rating Factors:
Fair reserve development (4.0 on a scale of 0 to 10) as the level of reserves has at times been insufficient to cover claims. In 2023 and 2024 the two year reserve development was 19.6% and 26.0% deficient respectively. Fair profitability index (3.6) with operating losses during 2020, 2022 and 2023. Average return on equity over the last five years has been poor at -4.1%. Fair long-term capitalization index (4.7) based on good current risk adjusted capital (severe loss scenarios) reflecting some improvement over results in 2023.
Other Rating Factors:
Good overall results on stability tests (6.8) despite fair risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification. The largest net exposure for one risk is conservative at 1.2% of capital. Excellent liquidity (7.7) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Comm multi (61.6%), personal/comm auto (9.8%), work comp (7.5%), fire (0.7%), other (20.5%)
Licensed in:
All states except AK, CT
Principal Investments:
Investment grade bonds (80.1%), common stock (6.2%), non investment grade bonds (1.6%), cash (0.3%), other (11.8%)
Corporate Info
Group Affiliation
GuideOne Mutual Holding Co
Investment Rating
--
Company Address
1111 Ashworth Road
West Des Moines, IA 50265
West Des Moines, IA 50265
Phone Number
(515) 267-5000
NAIC Number
14559
Website
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