Major Rating Factors:
Weak overall results on stability tests (1.7 on a scale of 0 to 10) including weak risk diversification, weak results on operational trends and lack of operational experience. The largest net exposure for one risk is excessive at 6.7% of capital. Fair reserve development (4.8) as reserves have generally been sufficient to cover claims. Fair profitability index (3.1) with operating losses during 2023, 2024 and the first three months of 2025.
Other Rating Factors:
Good long-term capitalization index (6.1) based on good current risk adjusted capital (severe loss scenarios) reflecting some improvement over results in 2023. Superior liquidity (10.0) 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.
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:
Other (100%)
Licensed in:
AL
Principal Investments:
Investment grade bonds (68.9%), cash (25.8%), common stock (2.7%), other (2.6%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
1605 Main Street
Sarasota, FL 34236
Sarasota, FL 34236
Phone Number
(941) 373-1113
NAIC Number
16959
Website
Largest Affiliates
No affiliate information available.