Major Rating Factors:
Fair reserve development (3.3 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 21.0% and 33.5% deficient respectively. Fair overall results on stability tests (4.0) including weak results on operational trends and negative cash flow from operations for 2024. Weak profitability index (2.2) with operating losses during 2022, 2023 and the first six months of 2025. Average return on equity over the last five years has been poor at -2.7%.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Comm multi (27.2%), med mal (9.7%), product liab. (1.4%), work comp (1.3%), other (60.5%)
Licensed in:
KS, NY
Principal Investments:
Investment grade bonds (98.8%), cash (0.3%), other (0.9%)
Corporate Info
Group Affiliation
None
Investment Rating
Company Address
3 Bryant Park
New York, NY 10036
New York, NY 10036
Phone Number
(212) 238-9600
NAIC Number
15529
Website
Largest Affiliates
No affiliate information available.