Major Rating Factors:
Good overall profitability index (5.1 on a scale of 0 to 10) despite operating losses during 2022 and 2023. Good liquidity (5.7) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Fair reserve development (4.1) as the level of reserves has at times been insufficient to cover claims. In 2022 and 2021 the two year reserve development was 15.8% and 17.0% deficient respectively.
Other Rating Factors:
Strong long-term capitalization index (7.2) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Excellent overall results on stability tests (7.3). Stability strengths include excellent operational trends and excellent risk diversification.
Stability Factors:
L - Past results on our liquidity tests.
Principal Lines of Business:
Comm multi (47.9%), personal/comm auto (29.4%), homeowners (7.7%), work comp (7.1%), other (7.9%)
Licensed in:
All states except AK, AL, CA, CT, DC, DE, FL, GA, HI, LA, MA, MD, MS, NC, NJ, NY, RI, SC, VA
Principal Investments:
Investment grade bonds (80.3%), common stock (16.1%), other (3.7%)
Corporate Info
Group Affiliation
Midwest Family Mutual Ins Co
Investment Rating
--
Company Address
12130 Meredith Drive
Urbandale, IA 50323
Urbandale, IA 50323
Phone Number
(515) 842-0010
NAIC Number
23574
Website
Largest Affiliates