Major Rating Factors:
Weak overall results on stability tests (0.0 on a scale of 0 to 10) including weak results on operational trends and fair risk adjusted capital in prior years. The largest net exposure for one risk is excessive at 131.6% of capital. Fair profitability index (3.1) with operating losses during 2020, 2021, 2023 and 2024. History of adequate reserve strength (6.0) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Good liquidity (6.7) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (7.3) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2021.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Fin guar/surety (100.0%)
Licensed in:
All states except TN, also licensed in PR, VI
Principal Investments:
Investment grade bonds (67.4%), non investment grade bonds (11.8%), cash (0.1%), other (20.7%)
Corporate Info
Group Affiliation
Ambac Financial Group Inc
Investment Rating
Company Address
One World Trade Center
New York, NY 10007
New York, NY 10007
Phone Number
(212) 658-7470
NAIC Number
18708
Website
Largest Affiliates