Dover Bay Specialty Ins Co
Major Rating Factors:
Fair profitability index (2.9 on a scale of 0 to 10) with operating losses during 2020, 2021, 2022 and 2023. History of adequate reserve strength (5.8) as reserves have been consistently at an acceptable level. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Strong long-term capitalization index (9.5) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2022. Excellent overall results on stability tests (7.4). Strengths include potentially strong support from affiliation with State Farm Mutual Automobile Ins Co, good operational trends, good risk adjusted capital for prior years and excellent risk diversification. The largest net exposure for one risk is conservative at 1.1% of capital.
Stability Factors:
G - Fast asset or premium growth.
Principal Lines of Business:
Homeowners (99.9%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (71.8%), other (28.2%)
Corporate Info
Group Affiliation
State Farm Mutual Automobile Ins Co
Investment Rating
--
Company Address
One State Farm Plaza
Bloomington, IL 61710
Bloomington, IL 61710
Phone Number
(309) 766-2311
NAIC Number
15894
Website
Largest Affiliates