Cajun Underwriters Reciprocal
Major Rating Factors:
Weak profitability index (1.8 on a scale of 0 to 10) with operating losses during 2022, 2023 and the first nine months of 2024. Fair reserve development (4.1) as reserves have generally been sufficient to cover claims. Fair overall results on stability tests (3.6) including weak results on operational trends and lack of operational experience. The largest net exposure for one risk is conservative at 2.0% of capital.
Other Rating Factors:
Strong long-term capitalization index (8.7) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Excellent liquidity (8.2) with ample operational cash flow and liquid investments.
Stability Factors:
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 (81.7%), fire (2.9%), other (15.4%)
Licensed in:
LA
Principal Investments:
Investment grade bonds (41.2%), cash (14.1%), preferred stock (6.8%), other (37.9%)
Corporate Info
Group Affiliation
Safepoint Holdings Inc
Investment Rating
--
Company Address
12640 Telecom Drive
Temple Terrace, FL 33637
Temple Terrace, FL 33637
Phone Number
(877) 858-7445
NAIC Number
17321
Website
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