Major Rating Factors:
Weak overall results on stability tests (1.6 on a scale of 0 to 10) including excessive premium growth, weak results on operational trends and weak risk diversification. The largest net exposure for one risk is high at 4.9% of capital. Good long-term capitalization index (5.6) based on fair current risk adjusted capital (moderate loss scenarios), although results have slipped from the good range during the last year. Fair reserve development (4.1) as reserves have generally been sufficient to cover claims.
Other Rating Factors:
Good overall profitability index (5.4) despite operating losses during 2022. Excellent liquidity (8.2) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
E - Lack of operating experience.
G - Fast asset or premium growth.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (100.0%)
Licensed in:
AL
Principal Investments:
Cash (100.0%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
1605 Main Street
Sarasota, FL 34236
Sarasota, FL 34236
Phone Number
--
NAIC Number
17328
Website
Largest Affiliates
No affiliate information available.