Spinnaker Ins Co
Major Rating Factors:
Good long-term capitalization index (6.4 on a scale of 0 to 10) based on fair current risk adjusted capital (moderate loss scenarios), although results have slipped from the good range during the last year. Vulnerable liquidity (1.3) as a spike in claims may stretch capacity. Good overall results on stability tests (5.8) despite excessive premium growth.
Other Rating Factors:
History of adequate reserve strength (7.0) as reserves have been consistently at an acceptable level. Excellent profitability index (8.8) with small operating losses during 2021.
Stability Factors:
G - Fast asset or premium growth.
L - Past results on our liquidity tests.
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
One Pluckemin Way
Bedminster, NJ 07921
Bedminster, NJ 07921
Phone Number
(888) 221-7742
NAIC Number
24376
Website
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