Major Rating Factors:
Weak overall results on stability tests (2.1 on a scale of 0 to 10) including weak results on operational trends, weak risk diversification and negative cash flow from operations for 2025. The largest net exposure for one risk is high at 3.8% of capital. Fair profitability index (2.9) with operating losses during 2021 and 2022. History of adequate reserve strength (6.1) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2021. Excellent liquidity (8.0) 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.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Reinsurance (100.0%)
Licensed in:
TN
Principal Investments:
Investment grade bonds (48.8%), common stock (34.6%), cash (15.8%), other (0.8%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
1605 Main Street
Sarasota, FL 34236
Sarasota, FL 34236
Phone Number
(941) 373-1113
NAIC Number
15867
Largest Affiliates
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