Spinnaker Ins Co
Major Rating Factors:
Fair long-term capitalization index (4.8 on a scale of 0 to 10) based on fair current risk adjusted capital (severe loss scenarios), although results have slipped from the excellent range over the last two years. Good liquidity (6.8) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (5.6) despite excessive premium growth, negative cash flow from operations for 2025 and fair risk adjusted capital in prior years. The largest net exposure for one risk is high at 4.1% of capital. Stability strengths include good operational trends and excellent risk diversification.
Other Rating Factors:
Ample reserve history (7.0) that can protect against increases in claims costs. Excellent profitability index (8.5) with small operating losses during 2021.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
F - Negative cash flow.
G - Fast asset or premium growth.
Principal Lines of Business:
Homeowners (49.2%), comm multi (24.2%), personal/comm auto (9.0%), fire (2.1%), other (15.6%)
Licensed in:
All states
Principal Investments:
Investment grade bonds (53.7%), common stock (21.1%), real estate (8.1%), cash (3.8%), other (13.3%)
Corporate Info
Group Affiliation
Hippo Holdings Inc
Investment Rating
Company Address
1 Pluckemin Way
Bedminster, NJ 07921
Bedminster, NJ 07921
Phone Number
(888) 221-7742
NAIC Number
24376
Website
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