Major Rating Factors:
Poor long-term capitalization index (0.1 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). A history of deficient reserves (1.1). Underreserving can have an adverse impact on capital and profits. Deficiencies in the two year reserve development occurred in three of the previous five years and ranged between 19.0% and 144.1%. Weak profitability index (0.1) with operating losses during each of the last five years and the first nine months of 2024. Return on equity has been fair, averaging 23.2% over the past five years.
Other Rating Factors:
Weak overall results on stability tests (1.0) including weak results on operational trends, weak risk adjusted capital in prior years and weak risk diversification. Excellent liquidity (7.1) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (100.0%)
Licensed in:
(No states)
Principal Investments:
Cash (50.1%), investment grade bonds (37.9%), common stock (2.9%), other (9.1%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
380 North Broadway
Jericho, NY 11753
Jericho, NY 11753
Phone Number
(877) 215-0510
NAIC Number
16286
Website
Largest Affiliates
No affiliate information available.