Major Rating Factors:
Fair profitability index (4.6 on a scale of 0 to 10) with operating losses during 2021, 2022 and 2023. Good long-term capitalization index (5.9) based on good current risk adjusted capital (severe loss scenarios), although results have slipped from the excellent range over the last two years. Good overall results on stability tests (5.9) despite excessive premium growth and fair risk adjusted capital in prior years. Stability strengths include good operational trends and good risk diversification.
Other Rating Factors:
History of adequate reserve strength (6.9) as reserves have been consistently at an acceptable level. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
Principal Lines of Business:
Homeowners (90.2%), fire (0.5%), other (9.2%)
Licensed in:
LA, NC, SC, TX
Principal Investments:
Investment grade bonds (37.1%), cash (27.7%), common stock (4.4%), preferred stock (0.2%), other (30.5%)
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
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