Major Rating Factors:
Strong long-term capitalization index (7.1 on a scale of 0 to 10) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Furthermore, this high level of risk adjusted capital has been consistently maintained in previous years. Excellent liquidity (7.2) with ample operational cash flow and liquid investments.
Other Rating Factors:
Good overall results on stability tests (5.6) despite excessive premium growth, weak results on operational trends and lack of operational experience. Fair profitability index (3.5) with operating losses during 2021 and 2022.
Stability Factors:
E - Lack of operating experience.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Product liab. (0.1%), other (99.9%)
Licensed in:
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Principal Investments:
Investment grade bonds (93.5%), cash (6.0%), other (0.5%)