Surya Ins Co RRG
Major Rating Factors:
Poor long-term capitalization index (1.2 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). A history of deficient reserves (2.8) that places pressure on both capital and profits. In 2023 and 2024 the two year reserve development was 33.6% and 57.4% deficient respectively. Weak overall results on stability tests (2.3) including weak results on operational trends, weak risk diversification and excessive premium growth.
Other Rating Factors:
Fair profitability index (3.9) with operating losses during 2022 and 2023. Good liquidity (5.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
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:
AL
Principal Investments:
Common stock (45.6%), cash (4.8%), other (49.5%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
1430 Gadsden Highway
Birmingham, AL 35235
Birmingham, AL 35235
Phone Number
(800) 242-7766
NAIC Number
16476
Website
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