Safepoint Ins Co
Major Rating Factors:
Good overall profitability index (6.2 on a scale of 0 to 10) despite operating losses during 2023. Fair overall results on stability tests (4.4) including weak results on operational trends. The largest net exposure for one risk is conservative at 1.1% of capital. Strong long-term capitalization index (7.7) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2022.
Other Rating Factors:
Ample reserve history (9.4) that helps to protect the company against sharp claims increases. Excellent liquidity (7.4) with ample operational cash flow and liquid investments.
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (42.1%), fire (8.1%), comm multi (3.9%), personal/comm auto (1.1%), other (44.8%)
Licensed in:
AL, FL, LA, MS, NJ, TX
Principal Investments:
Investment grade bonds (50.4%), cash (17.2%), real estate (0.8%), non investment grade bonds (0.3%), other (31.3%)
Corporate Info
Group Affiliation
Safepoint Holdings Inc
Investment Rating
--
Company Address
12640 Telecom Drive
Temple Terrace, FL 33637
Temple Terrace, FL 33637
Phone Number
(813) 651-3400
NAIC Number
15341
Website
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