Vyrd Ins Co
Major Rating Factors:
Poor long-term capitalization index (1.6 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios), although results have slipped from the fair range over the last two years. Fair profitability index (3.6) with operating losses during 2021, 2022 and 2023. Fair overall results on stability tests (3.2) including weak risk adjusted capital in prior years, weak results on operational trends and lack of operational experience. The largest net exposure for one risk is high at 4.3% of capital.
Other Rating Factors:
History of adequate reserve strength (5.2) as reserves have been consistently at an acceptable level. Good liquidity (5.8) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
E - Lack of operating experience.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (100.0%)
Licensed in:
FL
Principal Investments:
Investment grade bonds (50.2%), cash (49.4%), other (0.4%)
Corporate Info
Group Affiliation
None
Investment Rating
Company Address
360 Central Avenue
Saint Petersburg, FL 33701
Saint Petersburg, FL 33701
Phone Number
(888) 806-8973
NAIC Number
17153
Website
Largest Affiliates
No affiliate information available.