Major Rating Factors:
Weak profitability index (2.7 on a scale of 0 to 10) with operating losses during 2024 and the first three months of 2025. Weak overall results on stability tests (0.6) including weak results on operational trends, weak risk diversification and lack of operational experience. Fair reserve development (3.6) as reserves have generally been sufficient to cover claims.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
E - Lack of operating experience.
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
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Company Address
1605 Main Street
Sarasota, FL 34236
Sarasota, FL 34236
Phone Number
(941) 373-1162
NAIC Number
17564
Website
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Largest Affiliates
No affiliate information available.