Major Rating Factors:
Poor long-term capitalization index (2.2 on a scale of 0 to 10) based on weak current risk adjusted capital (severe loss scenarios), although results have slipped from the excellent range over the last two years. Weak profitability index (2.4) with operating losses during 2023 and 2024. Fair reserve development (4.4) as reserves have generally been sufficient to cover claims.
Other Rating Factors:
Fair overall results on stability tests (4.3) including excessive premium growth, weak risk adjusted capital in prior years and lack of operational experience. The largest net exposure for one risk is excessive at 6.9% of capital. Good liquidity (5.6) 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.
G - Fast asset or premium growth.
Principal Lines of Business:
Personal/comm auto (59.4%), homeowners (38.5%), other (2.1%)
Licensed in:
ID, OH, WA
Principal Investments:
Investment grade bonds (64.5%), cash (27.5%), common stock (7.9%)
Corporate Info
Group Affiliation
Fundacion Mapfre Estudios
Investment Rating
--
Company Address
211 Main Street
Webster, MA 01570
Webster, MA 01570
Phone Number
(508) 943-9000
NAIC Number
17286
Website
Largest Affiliates