Major Rating Factors:
Fair profitability index (4.2 on a scale of 0 to 10) with operating losses during 2020, 2021 and 2022. Average return on equity over the last five years has been poor at -1.3%. Fair long-term capitalization index (4.8) based on fair current risk adjusted capital (severe loss scenarios), although results have slipped from the good range during the last year. Good overall results on stability tests (6.5) despite fair risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification.
Other Rating Factors:
History of adequate reserve strength (7.0) as reserves have been consistently at an acceptable level. Excellent liquidity (7.7) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (8.4%), fire (1.8%), other (89.8%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (78.6%), cash (1.1%), other (20.3%)
Corporate Info
Group Affiliation
SiriusPoint Ltd
Investment Rating
Company Address
One World Trade Center
New York, NY 10007
New York, NY 10007
Phone Number
(212) 312-2500
NAIC Number
16820
Website
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