Major Rating Factors:
Weak overall results on stability tests (1.9 on a scale of 0 to 10) including weak results on operational trends, weak risk diversification and lack of operational experience. The largest net exposure for one risk is high at 3.6% of capital. Good long-term capitalization index (5.1) based on good current risk adjusted capital (severe loss scenarios) reflecting some improvement over results in 2023. History of adequate reserve strength (5.2) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Excellent overall profitability index (6.9) despite operating losses during 2022. Superior liquidity (9.7) 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:
Investment grade bonds (32.4%), cash (26.8%), other (40.8%)
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.