Major Rating Factors:
Weak profitability index (1.6 on a scale of 0 to 10) with operating losses during 2022. Average return on equity over the last five years has been poor at -3.0%. Weak overall results on stability tests (2.5) including weak results on operational trends. The largest net exposure for one risk is excessive at 8.8% of capital.
Other Rating Factors:
Good overall long-term capitalization (6.2) based on good current risk adjusted capital (moderate loss scenario). However, capital levels have fluctuated during prior years. History of adequate reserve strength (5.6) as reserves have been consistently at an acceptable level. Good liquidity (5.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Other (100%)
Licensed in:
All states, the District of Columbia and Puerto Rico
Principal Investments:
Investment grade bonds (88.7%), cash (0.5%), non investment grade bonds (0.2%), other (10.6%)
Corporate Info
Group Affiliation
XL Group Ltd
Investment Rating
--
Company Address
200 LIBERTY STREET
NEW YORK, NY 10281
NEW YORK, NY 10281
Phone Number
(203) 964-4025
NAIC Number
20583
Website
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