Westfield Select Ins Co
Major Rating Factors:
Fair reserve development (3.6 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair overall results on stability tests (2.9) including excessive premium growth and lack of operational experience. The largest net exposure for one risk is excessive at 10.5% of capital. Strengths include potentially strong support from affiliation with Westfield Select Ins Co. Good profitability index (4.9) with small operating losses during 2021. Excellent expense controls.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Excellent liquidity (7.0) 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.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Other (100%)
Licensed in:
All states except CA, ID, OR
Principal Investments:
Investment grade bonds (98.2%), other (1.8%)
Corporate Info
Group Affiliation
Westfield Select Ins Co
Investment Rating
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Company Address
One Park Circle
Westfield Center, OH 44251
Westfield Center, OH 44251
Phone Number
(330) 887-0101
NAIC Number
17105
Website
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Largest Affiliates