Property Ins Co of Am
Major Rating Factors:
Fair profitability index (4.5 on a scale of 0 to 10) with operating losses during 2021 and 2023. Good long-term capitalization index (5.7) based on good current risk adjusted capital (severe loss scenarios) reflecting significant improvement over results in 2023. History of adequate reserve strength (5.6) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Weak overall results on stability tests (2.8) including excessive premium growth, weak results on operational trends and lack of operational experience. The largest net exposure for one risk is acceptable at 2.6% of capital. Excellent liquidity (8.4) 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:
Homeowners (99.6%), other (0.4%)
Licensed in:
AL, LA, MS, SC
Principal Investments:
Investment grade bonds (66.2%), cash (14.5%), other (19.3%)
Corporate Info
Group Affiliation
None
Investment Rating
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Company Address
301 East Second Street
Pass Christian, MS 39571
Pass Christian, MS 39571
Phone Number
(228) 268-7422
NAIC Number
17087
Website
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