Major Rating Factors:
History of adequate reserve strength (5.8 on a scale of 0 to 10) as reserves have been consistently at an acceptable level. Good overall results on stability tests (6.5) despite excessive premium growth. Stability strengths include excellent operational trends, good risk adjusted capital for prior years and good risk diversification. Fair profitability index (3.9) with operating losses during 2022 and 2023.
Other Rating Factors:
Fair liquidity (4.5) as cash resources may not be adequate to cover a spike in claims. Strong long-term capitalization index (7.5) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2023.
Stability Factors:
L - Past results on our liquidity tests.
Principal Lines of Business:
Farmowners (27.0%), homeowners (25.7%), personal/comm auto (21.6%), fire (14.0%), comm multi (4.8%), work comp (4.2%), other (2.7%)
Licensed in:
MN, ND, SD
Principal Investments:
Investment grade bonds (51.4%), common stock (10.8%), real estate (3.7%), preferred stock (0.4%), other (33.8%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
125 East Highway 61
Esko, MN 55733
Esko, MN 55733
Phone Number
(218) 879-3321
NAIC Number
16330
Website
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