Major Rating Factors:
Weak overall results on stability tests (2.1 on a scale of 0 to 10) including weak results on operational trends and weak risk diversification. Good overall profitability index (5.0) with small operating losses during 2020. Return on equity has been low, averaging 1.4% over the past five years. Strong long-term capitalization index (9.6) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors:
Ample reserve history (7.0) that can protect against increases in claims costs. Excellent liquidity (8.0) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
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:
Comm multi (82.0%), fin guar/surety (11.6%), personal/comm auto (1.5%), fire (0.2%), other (4.7%)
Licensed in:
PR
Principal Investments:
Investment grade bonds (71.4%), cash (10.1%), common stock (4.3%), other (14.1%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
Buchanan Office Center
Guaynabo, PR 00968
Guaynabo, PR 00968
Phone Number
(787) 620-5000
NAIC Number
16991
Website
Largest Affiliates
No affiliate information available.