Noblr Reciprocal Exchange
Major Rating Factors:
Fair profitability index (3.5 on a scale of 0 to 10) with operating losses during each of the last five years and the first nine months of 2024. Average return on equity over the last five years has been poor at -32.1%. History of adequate reserve strength (5.6) as reserves have been consistently at an acceptable level. Good liquidity (6.3) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Good overall results on stability tests (6.6) despite excessive premium growth, negative cash flow from operations for 2023 and fair risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification. Strong long-term capitalization index (7.9) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2021.
Stability Factors:
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:
AR, AZ, CO, FL, GA, HI, IA, IL, IN, KY, LA, MD, MO, MS, NM, NV, OH, OK, PA, TN, TX, UT, VA, WI
Principal Investments:
Investment grade bonds (93.8%), cash (1.9%), non investment grade bonds (0.3%), other (3.9%)
Corporate Info
Group Affiliation
United Services Automobile Association
Investment Rating
--
Company Address
9800 Fredericksburg Road
San Antonio, TX 78288
San Antonio, TX 78288
Phone Number
(210) 414-8982
NAIC Number
16461
Website
Largest Affiliates