Major Rating Factors:
Weak overall results on stability tests (1.9 on a scale of 0 to 10) including negative cash flow from operations for 2025. The largest net exposure for one risk is excessive at 15.7% of capital. Fair profitability index (3.6) with operating losses during 2022 and 2023. History of adequate reserve strength (5.2) as reserves have been consistently at an acceptable level.
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. Superior liquidity (10.0) 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.
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 AK, FL, MS, OH, TN
Principal Investments:
Non investment grade bonds (51.1%), investment grade bonds (37.9%), cash (3.7%), common stock (3.5%), preferred stock (0.5%), other (3.3%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
--
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
485 Lexington Avenue
New York, NY 10017
New York, NY 10017
Phone Number
(212) 478-3400
NAIC Number
20311
Website
--
Largest Affiliates
No affiliate information available.