Vault Reciprocal Exchange
Major Rating Factors:
Fair overall results on stability tests (3.9 on a scale of 0 to 10) 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 acceptable at 2.0% of capital. Good long-term capitalization index (5.2) based on good current risk adjusted capital (severe loss scenarios) reflecting significant improvement over results in 2021. Weak profitability index (2.8) with operating losses during 2021 and 2022.
Other Rating Factors:
History of adequate reserve strength (7.0) as reserves have been consistently at an acceptable level. Superior liquidity (9.7) with ample operational cash flow and liquid investments.
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:
Homeowners (68.0%), personal/comm auto (17.5%), other (14.5%)
Licensed in:
All states except AL, CA, ID, KS, MN, NY, WI
Principal Investments:
Investment grade bonds (58.4%), cash (25.8%), non investment grade bonds (0.9%), other (14.8%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
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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
Largest Affiliates