Major Rating Factors:
Fair reserve development (3.6 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair profitability index (4.0) with operating losses during 2022. Fair overall results on stability tests (4.8) including excessive premium growth.
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.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Comm multi (36.9%), other (63.1%)
Licensed in:
All states except HI, UT, WY
Principal Investments:
Investment grade bonds (83.8%), cash (3.5%), other (12.8%)
Corporate Info
Group Affiliation
Octave Specialty Group Inc
Investment Rating
Company Address
40 Wall Street
New York, NY 10005
New York, NY 10005
Phone Number
(855) 355-0327
NAIC Number
24295
Website
Largest Affiliates