Surya Ins Co RRG
Major Rating Factors:
Poor long-term capitalization index (1.7 on a scale of 0 to 10) based on weak current risk adjusted capital (severe loss scenarios). Weak profitability index (2.9) with operating losses during 2020, 2022 and 2023. Average return on equity over the last five years has been poor at -12.5%. Weak overall results on stability tests (2.1) including weak risk adjusted capital in prior years, weak results on operational trends and weak risk diversification.
Other Rating Factors:
A history of deficient reserves (3.0). Underreserving can have an adverse impact on capital and profits. In 2023 and 2024 the two year reserve development was 33.6% and 57.4% deficient respectively. Excellent liquidity (8.9) 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.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (100.0%)
Licensed in:
(No states)
Principal Investments:
Common stock (21.9%), cash (9.4%), other (68.7%)
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
Largest Affiliates
No affiliate information available.