Major Rating Factors:
Fair profitability index (2.9 on a scale of 0 to 10) with operating losses during 2020, 2021, 2022 and 2023. Average return on equity over the last five years has been poor at -10.1%. Good long-term capitalization index (6.0) based on good current risk adjusted capital (severe loss scenarios), although results have slipped from the excellent range during the last year. History of adequate reserve strength (6.9) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Good overall results on stability tests (5.4) despite fair risk adjusted capital in prior years. Stability strengths include good operational trends and good risk diversification. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (92.9%), fire (0.5%), other (6.6%)
Licensed in:
LA, NC, SC, TX
Principal Investments:
Cash (37.4%), investment grade bonds (16.6%), preferred stock (0.7%), other (45.3%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
4200 West Cypress Street
Tampa, FL 33607
Tampa, FL 33607
Phone Number
(281) 833-1400
NAIC Number
15816
Website
Largest Affiliates
No affiliate information available.