C
Montana State Fund
Helena,  MT
Rating Date
June 2026
NAIC
Classification
Property & Casualty
Risk Adjusted
Capital Ratio #1
3.95
Risk Adjusted
Capital Ratio #2
2.54
Loss
Ratio
69.67%
Total
Assets
1.76B
Capital
744.42M
Net
Premiums
173.62M
Net
Income
58.26M
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Weiss Ratings Montana State Fund
Helena, MT 		Click to
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Rating C
Capitalization Index 8.90
Investment Safety Index --
Liquidity Index 7.20
Profitability Index 8.30
Reserve Adequacy Index 9.40
Stability Index 7.40
Company Info Montana State Fund
Helena, MT 		Click to
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Industry P&C
NAIC Number 15819
Phone Number (406) 495-5000
Website www.montanastatefund.com
Address 855 Front Street Helena, MT 59601
Balance Sheet Montana State Fund
Helena, MT 		Click to
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Total Assets 1.76B
Capital and Reserves Montana State Fund
Helena, MT 		Click to
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Risk-Adjusted Capital Ratio #1 3.95
Risk-Adjusted Capital Ratio #2 2.54
1-Year Reserve Development -6.77%
2-Year Reserve Development -13.62%
Capital 744.42M
Premium to Surplus 23.32%
Reserves to Surplus 116.43%
Investments Montana State Fund
Helena, MT 		Click to
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Cash --
CMO & Structured Securities --
Common & Preferred Stock --
Invested Assets --
Investments in Affiliates --
Mortgages in Good Standing --
Non-Investment Grade Bonds --
Non-Performing Mortgages --
Other Investment Grade Bonds --
Other Investments --
Real Estate --
Operating Ratios Montana State Fund
Helena, MT 		Click to
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Medical Loss Ratio --
Cash From Underwriting 93.98%
Combined Ratio 97.93%
Expense Ratio 28.25%
Loss Ratio 69.67%
Net Premium Growth -2.63%
Other Medical Montana State Fund
Helena, MT 		Click to
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Bonus Pay --
Capitation Pay --
Contractual Pay --
Enrollment --
Fee For Service --
Medical Expense Per Member Per Month --
Network Physicians --
Other Pay --
Salary Pay --
Total Patient Encounters - Physician --
Total Patient Encounters-Non-Physician --
Profitability Montana State Fund
Helena, MT 		Click to
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Net Income 58.26M
Net Premium 173.62M
Health Premium --