PALMS SPECIALTY INSURANCE CO
Major Rating Factors:
Strong long-term capitalization index (10.0 on a scale of 0 to 10) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Furthermore, this high level of risk adjusted capital has been consistently maintained in previous years. Superior liquidity (10.0) with ample operational cash flow and liquid investments.
Other Rating Factors:
Good overall results on stability tests (6.4) despite weak results on operational trends and lack of operational experience. The largest net exposure for one risk is conservative at 1.3% of capital. Weak profitability index (2.9) with operating losses during 2022.
Stability Factors:
E - Lack of operating experience.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Reinsurance (100.0%)
Licensed in:
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Principal Investments:
Investment grade bonds (88.2%), cash (1.0%), non investment grade bonds (0.1%), other (10.6%)
Corporate Info
Group Affiliation
None
Investment Rating
Company Address
251 Little Falls Drive
WILMINGTON, DE 19808
WILMINGTON, DE 19808
Phone Number
(414) 369-5033
NAIC Number
17327
Website
Largest Affiliates
No affiliate information available.
