Midrox Ins Co
Major Rating Factors:
Fair profitability index (4.9 on a scale of 0 to 10) with small operating losses during 2023. Return on equity has been low, averaging 5.0% over the past five years. Weak overall results on stability tests (2.7) including excessive premium growth and weak risk diversification. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. History of adequate reserve strength (6.9) as reserves have been consistently at an acceptable level.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Comm multi (43.2%), homeowners (21.0%), farmowners (19.3%), fire (4.7%), other (11.8%)
Licensed in:
NY
Principal Investments:
Investment grade bonds (60.8%), common stock (30.6%), cash (4.7%), other (3.9%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
104B Bracken Road
Montgomery, NY 12549
Montgomery, NY 12549
Phone Number
(845) 457-5001
NAIC Number
26835
Website
Largest Affiliates
No affiliate information available.