Major Rating Factors:
Weak profitability index (1.5 on a scale of 0 to 10) with operating losses during 2021, 2023, 2024 and 2025. Weak overall results on stability tests (0.0) including weak results on operational trends, weak risk adjusted capital in prior years and negative cash flow from operations for 2025. The largest net exposure for one risk is excessive at 30.7% of capital. Poor long-term capitalization index (2.9) based on weak current risk adjusted capital (severe loss scenarios), although results have slipped from the fair range during the last year.
Other Rating Factors:
Fair reserve development (4.4) as reserves have generally been sufficient to cover claims. In 2024 the two year reserve development was 22.4% deficient. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
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:
AZ, CA, HI, OR, TX
Principal Investments:
Investment grade bonds (62.2%), cash (2.0%), other (35.8%)
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
242 Trumbull Street
Hartford, CT 06103
Hartford, CT 06103
Phone Number
(860) 404-9181
NAIC Number
23671
Website
Largest Affiliates