Palms Specialty Ins Co
Major Rating Factors:
Fair reserve development (3.6 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair profitability index (3.8) with operating losses during 2022. Fair overall results on stability tests (4.3) including weak results on operational trends and lack of operational experience. The largest net exposure for one risk is conservative at 1.4% of capital.
Other Rating Factors:
Strong long-term capitalization index (9.9) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Superior liquidity (9.0) 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:
Comm multi (36.4%), other (63.6%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (92.2%), cash (0.4%), non investment grade bonds (0.2%), other (7.2%)
Corporate Info
Group Affiliation
None
Investment Rating
Company Address
700 Universe Boulevard
Juno Beach, FL 33408
Juno Beach, FL 33408
Phone Number
(561) 304-5532
NAIC Number
17327
Website
Largest Affiliates
No affiliate information available.