Major Rating Factors:
Good overall profitability index (5.3 on a scale of 0 to 10) despite operating losses during 2023. Excellent expense controls. Good overall results on stability tests (5.0) despite excessive premium growth, negative cash flow from operations for 2025 and fair risk adjusted capital in prior years. Strengths include potentially strong support from affiliation with AXA SA. Fair reserve development (3.5) as reserves have generally been sufficient to cover claims.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2020. Good liquidity (7.0) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Reinsurance (100.0%)
Licensed in:
All states and GU, PR, VI
Principal Investments:
Investment grade bonds (79.1%), cash (4.3%), other (16.7%)
Corporate Info
Group Affiliation
AXA SA
Investment Rating
--
Company Address
677 Washington Blvd
Stamford, CT 06901
Stamford, CT 06901
Phone Number
(203) 964-5200
NAIC Number
19518
Website
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