D
HEREFORD INS CO
Data as of
March 31, 2022
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: Poor long-term capitalization index (2.5 on a scale of 0 to 10) based on weak current risk adjusted capital (moderate loss scenario). A history of deficient reserves (0.8) that places pressure on both capital and profits. In the last five years, reserves (two year development) fluctuated between 60% and 49% deficeint.
Other Rating Factors: Weak overall results on stability tests (1.1) including weak results on operational trends and weak risk adjusted capital in prior years. The largest net exposure for one risk is conservative at 1.0% of capital. Good overall profitability index (5.9). Good expense controls. Return on equity has been good over the last five years, averaging 11.7%. Good liquidity (6.7) 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: Personal/comm auto (89.5%), work comp (10.5%)
Licensed in: NJ, NY
Principal Investments: Investment grade bonds (87.6%), cash (5.3%), common stock (1.9%), non investment grade bonds (0.5%), preferred stock (0.2%), other (4.5%)
Ratios
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Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
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Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
Hereford Holding Co Inc
Investment Rating
--
Company Address
36-01 43rd Avenue
Long Island City, NY 11101
Phone Number
(718) 361-9191
NAIC Number
24309
Largest Affiliates
No affiliate information available.
Weiss Ratings