Major Rating Factors:
Fair overall results on stability tests (4.8 on a scale of 0 to 10) including potential drain of affiliation with Andover Group and weak results on operational trends. Good overall profitability index (6.5) with small operating losses during 2018 and 2021.
Other Rating Factors:
Strong long-term capitalization index (7.7) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Ample reserve history (7.4) that can protect against increases in claims costs. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (49.7%), comm multi (22.3%), fire (11.5%), other (16.5%)
Licensed in:
CT, IL, ME, MA, NH, NJ, NY, RI, VT
Principal Investments:
Common stock (72.5%), investment grade bonds (12.2%), cash (6.9%), real estate (1.9%), other (6.6%)