Founders Ins Co of MI
Major Rating Factors:
Fair reserve development (4.1 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair profitability index (4.3) with operating losses during 2020 and 2021. Return on equity has been low, averaging 0.2% over the past five years. Fair overall results on stability tests (3.7) including excessive premium growth and negative cash flow from operations for 2024.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
Principal Lines of Business:
Reinsurance (100.0%)
Licensed in:
MI
Principal Investments:
Investment grade bonds (95.9%), cash (1.8%), other (2.3%)
Corporate Info
Group Affiliation
Utica National Ins Group
Investment Rating
--
Company Address
1350 East Touhy Avenue
Des Plaines, IL 60018
Des Plaines, IL 60018
Phone Number
(847) 768-0040
NAIC Number
18180
Website
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