Major Rating Factors:
Good overall results on stability tests (6.7 on a scale of 0 to 10) despite negative cash flow from operations for 2024. Stability strengths include excellent operational trends and good risk diversification. Fair profitability index (3.3) with operating losses during 2020, 2022, 2023 and 2024. Average return on equity over the last five years has been poor at -5.5%. Strong long-term capitalization index (8.9) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors:
History of adequate reserve strength (6.9) as reserves have been consistently at an acceptable level. Good liquidity (7.0) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (43.7%), comm multi (38.1%), personal/comm auto (11.8%), fire (2.0%), other (4.3%)
Licensed in:
CT, MA, ME, NH, NJ, NY, RI, VT
Principal Investments:
Investment grade bonds (63.0%), common stock (29.7%), cash (1.9%), real estate (1.4%), other (4.1%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
340 East Avenue
Warwick, RI 02886
Warwick, RI 02886
Phone Number
(401) 827-1800
NAIC Number
15040
Website
Largest Affiliates
No affiliate information available.