METROMILE INS CO
Major Rating Factors:
Poor long-term capitalization index (2.0 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). Weak profitability index (2.7) with operating losses during each of the last five years. Average return on equity over the last five years has been poor at -15.6%.
Other Rating Factors:
Vulnerable liquidity (0.6) as a spike in claims may stretch capacity. Weak overall results on stability tests (2.0) including weak results on operational trends, weak risk adjusted capital in prior years and negative cash flow from operations for 2022. The largest net exposure for one risk is conservative at 1.5% of capital. Fair reserve development (4.3) as reserves have generally been sufficient to cover claims.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
F - Negative cash flow.
L - Past results on our liquidity tests.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Personal/comm auto (100.0%)
Licensed in:
All states except TN, PR
Principal Investments:
Investment grade bonds (64.1%), cash (20.3%), other (15.6%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
3080 N Civic Center Plaza
SCOTTSDALE, AZ 85251
SCOTTSDALE, AZ 85251
Phone Number
(415) 577-0859
NAIC Number
16187
Website
Largest Affiliates
No affiliate information available.
