Major Rating Factors:
Fair reserve development (3.6 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Good overall profitability index (5.2) with small operating losses during 2022. Excellent expense controls. Return on equity has been low, averaging 2.0% over the past five years. Good overall results on stability tests (6.1) despite excessive premium growth. Other stability subfactors include potentially strong support from affiliation with American International Group Inc, good operational trends and excellent risk diversification.
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:
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (99.2%), personal/comm auto (0.8%)
Licensed in:
All states
Principal Investments:
Investment grade bonds (78.0%), cash (21.1%), other (0.9%)
Corporate Info
Group Affiliation
American International Group Inc
Investment Rating
Company Address
1271 Avenue of the Americas
New York, NY 10020
New York, NY 10020
Phone Number
(212) 770-7000
NAIC Number
19399
Website
Largest Affiliates