Spinnaker Ins Co
Major Rating Factors:
Fair long-term capitalization index (4.3 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 during the last year. Good overall results on stability tests (5.0) including fair risk adjusted capital in prior years. The largest net exposure for one risk is high at 4.5% of capital. History of adequate reserve strength (7.0) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Excellent profitability index (8.6) with small operating losses during 2021 and the first six months of 2025. Excellent liquidity (7.3) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (61.9%), comm multi (17.4%), personal/comm auto (7.7%), fire (1.0%), other (11.9%)
Licensed in:
All states
Principal Investments:
Investment grade bonds (46.1%), common stock (19.8%), real estate (9.0%), cash (1.8%), other (23.2%)
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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