Major Rating Factors:
Poor long-term capitalization index (1.3 on a scale of 0 to 10) based on weak current risk adjusted capital (severe loss scenarios), although results have slipped from the fair range over the last two years. Weak overall results on stability tests (2.2) including weak risk adjusted capital in prior years, weak results on operational trends and weak risk diversification. The largest net exposure for one risk is high at 3.5% of capital. Fair reserve development (3.9) as the level of reserves has at times been insufficient to cover claims. In 2024 and 2022 the one year reserve development was 27.3% and 34.7% deficient respectively.
Other Rating Factors:
Fair profitability index (3.8) with operating losses during 2022, 2024 and the first six months of 2025. Return on equity has been low, averaging 2.0% over the past five years. Superior liquidity (9.0) 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.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Med mal (100.0%)
Licensed in:
NC
Principal Investments:
Investment grade bonds (68.2%), cash (10.3%), other (21.5%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
1605 Main Street
Sarasota, FL 34236
Sarasota, FL 34236
Phone Number
--
NAIC Number
16383
Website
Largest Affiliates
No affiliate information available.