Major Rating Factors:
Weak profitability index (0.9 on a scale of 0 to 10) with operating losses during 2022, 2023 and 2024. Average return on equity over the last five years has been poor at -18.8%. Fair overall results on stability tests (3.3) including weak results on operational trends, negative cash flow from operations for 2024 and fair risk adjusted capital in prior years. The largest net exposure for one risk is conservative at 1.3% of capital. Good long-term capitalization index (5.1) based on good current risk adjusted capital (severe loss scenarios), although results have slipped from the excellent range during the last year.
Other Rating Factors:
Good liquidity (6.7) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Ample reserve history (8.2) that helps to protect the company against sharp claims increases.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Comm multi (89.5%), personal/comm auto (4.8%), work comp (3.6%), other (2.1%)
Licensed in:
AL, GA, KY, NC, SC, TN, VA, WV
Principal Investments:
Investment grade bonds (74.4%), common stock (6.3%), real estate (0.7%), preferred stock (0.7%), non investment grade bonds (0.3%), other (17.6%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
201 Greenlawn Drive
Columbia, SC 29209
Columbia, SC 29209
Phone Number
(803) 776-9365
NAIC Number
26468
Website
Largest Affiliates
No affiliate information available.