Major Rating Factors:
Poor long-term capitalization index (2.7 on a scale of 0 to 10) based on fair current risk adjusted capital (severe loss scenarios) reflecting improvement over results in 2022. Fair reserve development (4.3) as reserves have generally been sufficient to cover claims. Fair overall results on stability tests (3.6) including weak results on operational trends, weak risk adjusted capital in prior years, lack of operational experience and excessive premium growth.
Other Rating Factors:
Good overall profitability index (6.6) despite operating losses during 2022. Excellent liquidity (8.2) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
E - Lack of operating experience.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (93.7%), fire (1.4%), other (4.9%)
Licensed in:
FL, SC
Principal Investments:
Investment grade bonds (53.6%), cash (43.4%), other (3.0%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
4221 West Boy Scout Boulevard
Tampa, FL 33607
Tampa, FL 33607
Phone Number
(800) 748-2030
NAIC Number
17227
Website
Largest Affiliates
No affiliate information available.