PURE Specialty Exchange
Major Rating Factors:
Vulnerable liquidity (2.0 on a scale of 0 to 10) as a spike in claims may stretch capacity. Weak overall results on stability tests (2.6) including lack of operational experience. The largest net exposure for one risk is excessive at 12.2% of capital. Fair profitability index (4.6) with operating losses during 2022 and 2023.
Other Rating Factors:
Good long-term capitalization index (5.0) based on good current risk adjusted capital (severe loss scenarios), although results have slipped from the excellent range during the last year. History of adequate reserve strength (6.4) as reserves have been consistently at an acceptable level.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
E - Lack of operating experience.
L - Past results on our liquidity tests.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Homeowners (74.8%), personal/comm auto (16.6%), other (8.6%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (75.9%), common stock (5.6%), non investment grade bonds (4.1%), cash (0.4%), other (14.0%)
Corporate Info
Group Affiliation
Tokio Marine Holdings Inc
Investment Rating
--
Company Address
44 South Broadway
White Plains, NY 10601
White Plains, NY 10601
Phone Number
(917) 719-7662
NAIC Number
17148
Largest Affiliates