Mangrove Ppty Ins Co
Major Rating Factors:
Weak overall results on stability tests (2.2 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. Fair long-term capitalization index (4.6) based on fair current risk adjusted capital (severe loss scenarios).
Other Rating Factors:
Excellent profitability index (9.8). Excellent expense controls. Excellent liquidity (7.4) 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 (80.5%), fire (1.3%), other (18.2%)
Licensed in:
FL
Principal Investments:
Investment grade bonds (68.1%), cash (31.9%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
6170 Central Ave
Saint Petersburg, FL 33707
Saint Petersburg, FL 33707
Phone Number
(727) 256-5412
NAIC Number
17735
Website
Largest Affiliates
No affiliate information available.