Major Rating Factors:
Weak overall results on stability tests (2.0 on a scale of 0 to 10) including weak results on operational trends, excessive premium growth and weak risk diversification. The largest net exposure for one risk is conservative at 1.3% of capital. History of adequate reserve strength (6.7) as reserves have been consistently at an acceptable level. Good profitability index (4.9) with small operating losses during 2021. Excellent expense controls.
Other Rating Factors:
Strong long-term capitalization index (7.4) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital has steadily grown over the last five years. Superior liquidity (10.0) with ample operational cash flow and liquid investments.
Stability Factors:
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:
Personal/comm auto (100.0%)
Licensed in:
AL
Principal Investments:
Investment grade bonds (74.2%), cash (17.6%), other (8.2%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
1605 Main Street
Sarasota, FL 34236
Sarasota, FL 34236
Phone Number
(334) 956-7619
NAIC Number
17046
Website
--
Largest Affiliates
There are no affiliate to display.