Vault Reciprocal Exchange
Major Rating Factors:
Fair profitability index (2.9 on a scale of 0 to 10) with operating losses during 2021 and 2022. Fair overall results on stability tests (4.0) including weak risk adjusted capital in prior years, weak results on operational trends and excessive premium growth. The largest net exposure for one risk is conservative at 2.0% of capital. Good long-term capitalization index (5.6) based on good current risk adjusted capital (severe loss scenarios) reflecting significant improvement over results in 2021.
Other Rating Factors:
Good liquidity (6.7) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Ample reserve history (7.0) that can protect against increases in claims costs.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (73.0%), personal/comm auto (14.1%), other (12.9%)
Licensed in:
All states except AL, CA, ID, KS, MN, NY, WI
Principal Investments:
Investment grade bonds (80.2%), cash (9.2%), non investment grade bonds (0.2%), other (10.5%)
Corporate Info
Group Affiliation
Cornell Capital GP II GP LLC
Investment Rating
--
Company Address
300 First Avenue South
Saint Petersburg, FL 33701
Saint Petersburg, FL 33701
Phone Number
(844) 368-2858
NAIC Number
16186
Website
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