Major Rating Factors:
Poor long-term capitalization index (2.4 on a scale of 0 to 10) based on weak current risk adjusted capital (severe loss scenarios), although results have slipped from the fair range during the last year. Weak overall results on stability tests (2.5) including excessive premium growth, weak results on operational trends and lack of operational experience. The largest net exposure for one risk is excessive at 5.1% of capital. Ample reserve history (8.3) that helps to protect the company against sharp claims increases.
Other Rating Factors:
Excellent profitability index (8.8). Excellent liquidity (8.2) 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 (45.0%), cash (43.3%), common stock (11.1%), other (0.7%)
Corporate Info
Group Affiliation
None
Investment Rating
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Company Address
1605 Main Street
Sarasota, FL 34236
Sarasota, FL 34236
Phone Number
(941) 373-1147
NAIC Number
17052
Website
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Largest Affiliates
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