Major Rating Factors:
Strong long-term capitalization index (9.2 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. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Excellent overall results on stability tests (7.9). Stability strengths include excellent operational trends and excellent risk diversification. Fair profitability index (3.7) with operating losses during 2022 and 2023. Average return on equity over the last five years has been poor at -1.0%.
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 (53.0%), homeowners (34.7%), farmowners (2.3%), comm multi (1.6%), work comp (1.2%), fire (0.8%), other (6.4%)
Licensed in:
NC
Principal Investments:
Investment grade bonds (73.0%), common stock (20.4%), other (6.6%)
Corporate Info
Group Affiliation
North Carolina Farm Bureau Mutual Ins Co
Investment Rating
--
Company Address
5301 Glenwood Avenue
Raleigh, NC 27612
Raleigh, NC 27612
Phone Number
(919) 782-1705
NAIC Number
14842
Website
Largest Affiliates