Major Rating Factors:
A history of deficient reserves (2.6 on a scale of 0 to 10). 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 23.1% and 42.5%. Weak overall results on stability tests (2.2) including excessive premium growth, weak risk diversification and negative cash flow from operations for 2023. The largest net exposure for one risk is excessive at 10.0% of capital. Fair long-term capitalization index (4.2) based on fair current risk adjusted capital (severe loss scenarios) reflecting improvement over results in 2021.
Other Rating Factors:
Fair profitability index (4.6) with operating losses during 2022, 2023 and the first nine months of 2024. Return on equity has been fair, averaging 13.3% over the past five years. Excellent liquidity (8.4) 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.
F - Negative cash flow.
G - Fast asset or premium growth.
Principal Lines of Business:
Personal/comm auto (100.0%)
Licensed in:
HI
Principal Investments:
Cash (44.9%), investment grade bonds (39.6%), other (15.5%)
Corporate Info
Group Affiliation
None
Investment Rating
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Company Address
707 Richards Street
Honolulu, HI 96813
Honolulu, HI 96813
Phone Number
(419) 724-8780
NAIC Number
16439
Website
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Largest Affiliates
No affiliate information available.