Ovation Home Ins Exchange
Major Rating Factors:
Weak overall results on stability tests (2.8 on a scale of 0 to 10) including excessive premium growth, weak results on operational trends and lack of operational experience. Fair reserve development (3.6) as reserves have generally been sufficient to cover claims. Strong long-term capitalization index (9.2) based on excellent current risk adjusted capital (severe and moderate loss scenarios).
Other Rating Factors:
Excellent profitability index (8.9). Excellent expense controls. Superior liquidity (9.5) with ample operational cash flow and liquid investments.
Stability Factors:
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:
Homeowners (99.7%), other (0.3%)
Licensed in:
FL
Principal Investments:
Cash (100.0%)
Corporate Info
Group Affiliation
Florida Peninsula Holdings LLC
Investment Rating
--
Company Address
903 NW 65th Street
Boca Raton, FL 33487
Boca Raton, FL 33487
Phone Number
(877) 229-2244
NAIC Number
17621
Website
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