Major Rating Factors:
Fair profitability index (3.9 on a scale of 0 to 10) with operating losses during 2021, 2022 and 2024. Average return on equity over the last five years has been poor at -0.3%. Fair long-term capitalization index (4.6) based on fair current risk adjusted capital (severe loss scenarios) reflecting improvement over results in 2021. Good overall results on stability tests (5.3) despite excessive premium growth, weak risk adjusted capital in prior years and negative cash flow from operations for 2024. Stability strengths include good operational trends and good risk diversification.
Other Rating Factors:
Ample reserve history (9.5) that helps to protect the company against sharp claims increases. Superior liquidity (9.3) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
Principal Lines of Business:
Reinsurance (100.0%)
Licensed in:
All states except FL, ID, MD, MI
Principal Investments:
Investment grade bonds (62.2%), common stock (8.5%), cash (1.8%), non investment grade bonds (0.5%), other (27.1%)
Ratios
Premium to Surplus
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Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
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Combined Ratio
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Cash From Underwriting
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Net Premium Growth
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Investments in Affiliates
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Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
Three Batterymarch Park
Quincy, MA 02169
Quincy, MA 02169
Phone Number
(215) 665-5000
NAIC Number
15059
Website
Largest Affiliates
No affiliate information available.