Ardellis Ins Ltd
Major Rating Factors:
History of adequate reserve strength (5.1 on a scale of 0 to 10) as reserves have been consistently at an acceptable level. Good liquidity (6.8) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (6.0) despite fair risk adjusted capital in prior years. Stability strengths include excellent operational trends and good risk diversification.
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 2020. Excellent profitability index (7.2) despite operating losses during 2022.
Stability Factors:
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Comm multi (21.3%), other (78.7%)
Licensed in:
MI, OH
Principal Investments:
Investment grade bonds (55.6%), cash (7.3%), preferred stock (5.8%), other (31.3%)
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
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