Velocity Ins Co A RRG
Major Rating Factors:
Weak overall results on stability tests (2.0 on a scale of 0 to 10) including weak risk diversification. The largest net exposure for one risk is high at 3.8% of capital. Fair profitability index (4.7) with operating losses during 2021 and 2022. Return on equity has been low, averaging 2.4% over the past five years. History of adequate reserve strength (6.4) 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), despite some fluctuation in capital levels. Superior liquidity (10.0) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (100.0%)
Licensed in:
SC
Principal Investments:
Cash (100.0%)
Corporate Info
Group Affiliation
None
Investment Rating
Company Address
1064 Gardner Drive
Charleston, SC 29407
Charleston, SC 29407
Phone Number
(843) 872-3301
NAIC Number
15956
Largest Affiliates
No affiliate information available.