Ardellis Ins Ltd
Major Rating Factors:
Good overall results on stability tests (5.7 on a scale of 0 to 10) despite fair risk adjusted capital in prior years. Stability strengths include excellent operational trends and good risk diversification. Strong long-term capitalization index (9.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2020. Excellent profitability index (7.2) despite operating losses during 2022. Return on equity has been good over the last five years, averaging 13.2%.
Other Rating Factors:
Excellent liquidity (7.2) with ample operational cash flow and liquid investments. Fair reserve development (4.6) as reserves have generally been sufficient to cover claims.
Stability Factors:
G - Fast asset or premium growth.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Comm multi (25.2%), other (74.8%)
Licensed in:
MI, OH
Principal Investments:
Investment grade bonds (57.0%), cash (11.4%), preferred stock (1.8%), other (29.8%)
Corporate Info
Group Affiliation
None
Investment Rating
Company Address
2801 East Beltline, NE
Grand Rapids, MI 49525
Grand Rapids, MI 49525
Phone Number
(616) 365-1542
NAIC Number
16141
Website
Largest Affiliates
No affiliate information available.