Major Rating Factors:
Poor long-term capitalization index (1.7 on a scale of 0 to 10) based on weak current risk adjusted capital (severe loss scenarios). Fair reserve development (3.8) as reserves have generally been sufficient to cover claims. In 2024 the two year reserve development was 26.7% deficient. Fair profitability index (3.8) with operating losses during 2020 and 2023. Average return on equity over the last five years has been poor at -1.3%.
Other Rating Factors:
Fair overall results on stability tests (3.8) including weak risk adjusted capital in prior years. Excellent liquidity (7.6) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Comm multi (71.5%), personal/comm auto (14.2%), other (14.3%)
Licensed in:
NY, TX
Principal Investments:
Investment grade bonds (44.7%), common stock (10.8%), preferred stock (7.3%), non investment grade bonds (2.9%), other (34.2%)
Corporate Info
Group Affiliation
None
Investment Rating
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Company Address
333 Earle Ovington Boulevard
Uniondale, NY 11553
Uniondale, NY 11553
Phone Number
(516) 750-9364
NAIC Number
25917
Website
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Largest Affiliates
No affiliate information available.