SPARTA Ins Co
Rating Date
October 2025
NAIC
Classification
Classification
Risk Adjusted
Capital Ratio #1
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Capital Ratio #2
Loss
Ratio
Ratio
Total
Assets
Assets
Capital
Net
Premiums
Premiums
Net
Income
Income
Major Rating Factors:
A history of deficient reserves (1.2 on a scale of 0 to 10). Underreserving can have an adverse impact on capital and profits. In 2023 and 2024 the two year reserve development was 70.8% and 128.7% deficient respectively. Weak profitability index (0.6) with operating losses during 2020, 2023, 2024 and the first six months of 2025. Average return on equity over the last five years has been poor at -51.4%. Fair overall results on stability tests (3.2) including weak results on operational trends, weak risk adjusted capital in prior years and negative cash flow from operations for 2024.
Other Rating Factors:
Strong long-term capitalization index (7.5) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2023. 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.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (0.6%), other (99.4%)
Licensed in:
All states
Principal Investments:
Investment grade bonds (88.8%), cash (0.8%), other (10.4%)
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
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Corporate Info
Group Affiliation
Apollo Global Management Inc
Investment Rating
Company Address
Five Batterson Park Road
Farmington, CT 06032
Farmington, CT 06032
Phone Number
(860) 773-3410
NAIC Number
20613
Website
Largest Affiliates