Major Rating Factors:
Weak profitability index (2.7 on a scale of 0 to 10) with operating losses during each of the last five years. However, profits have turned positive in the first three months of 2025. Average return on equity over the last five years has been poor at -34.8%. Weak overall results on stability tests (2.0) including excessive premium growth, weak results on operational trends and weak risk diversification. History of adequate reserve strength (5.8) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2021. Superior liquidity (10.0) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Reinsurance (100.0%)
Licensed in:
FL
Principal Investments:
Cash (7.6%), other (92.4%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
4054 Sawyer Road
Sarasota, FL 34233
Sarasota, FL 34233
Phone Number
(941) 259-8882
NAIC Number
16584
Website
Largest Affiliates
No affiliate information available.