B
Everspan Indem Ins Co
Rating Date
April 2025
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: Fair profitability index (4.6 on a scale of 0 to 10) with operating losses during 2021, 2022 and 2023. Fair overall results on stability tests (4.0) including excessive premium growth, weak results on operational trends and lack of operational experience. History of adequate reserve strength (5.9) as reserves have been consistently at an acceptable level.
Other Rating Factors: Good liquidity (6.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (7.5) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years.
Stability Factors: A - Financial problems or weaknesses of a parent or affiliate company. E - Lack of operating experience. G - Fast asset or premium growth. R - Concerns about the financial strength of its reinsurers. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Personal/comm auto (20.6%), work comp (9.1%), fin guar/surety (2.6%), comm multi (0.1%), other (67.6%)
Licensed in: (No states)
Principal Investments: Investment grade bonds (53.1%), common stock (42.5%), other (4.4%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
Ambac Financial Group Inc
Investment Rating
Company Address
One World Trade Center
New York, NY 10007
Phone Number
(855) 355-0327
NAIC Number
16882
Largest Affiliates
E
New York, NY - P&C
B
New York, NY - P&C
C
New York, NY - P&C
C
New York, NY - P&C
B