Major Rating Factors:
Fair profitability index (3.7 on a scale of 0 to 10) with operating losses during 2022 and 2023. Weak overall results on stability tests (2.7) including weak risk diversification. The largest net exposure for one risk is conservative at 1.3% of capital. Good long-term capitalization index (6.4) based on good current risk adjusted capital (severe loss scenarios). However, capital levels have fluctuated somewhat during past years.
Other Rating Factors:
History of adequate reserve strength (5.8) as reserves have been consistently at an acceptable level. Good liquidity (6.3) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Homeowners (59.6%), farmowners (14.8%), fire (13.8%), other (11.9%)
Licensed in:
PA
Principal Investments:
Common stock (52.6%), investment grade bonds (30.7%), cash (10.0%), preferred stock (3.7%), real estate (0.2%), other (2.8%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
477 West Pitt Street
Bedford, PA 15522
Bedford, PA 15522
Phone Number
(814) 623-8515
NAIC Number
16888
Website
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