Major Rating Factors:
Weak overall results on stability tests (1.7 on a scale of 0 to 10) including lack of operational experience. The largest net exposure for one risk is excessive at 16.3% of capital. History of adequate reserve strength (5.1) as reserves have been consistently at an acceptable level. Strong long-term capitalization index (7.6) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years.
Other Rating Factors:
Excellent profitability index (8.9). Excellent expense controls. Good liquidity (7.0) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
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.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Comm multi (11.8%), other (88.2%)
Licensed in:
PR
Principal Investments:
Investment grade bonds (95.0%), cash (5.0%)
Corporate Info
Group Affiliation
Popular Inc
Investment Rating
Company Address
Corporate Office Park
Guaynabo, PR 00966
Guaynabo, PR 00966
Phone Number
(787) 706-4111
NAIC Number
17251
Website
Largest Affiliates