B
Southern Ins Co of VA
Rating Date
April 2025
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
Auto Physical Damage
Year
Claims Received and Closed
Claims Closed without Payment
Total Claims Received and Closed
Percentage of Claims Closed without Payment
Percentage of Claims Closed without Payment
National Average
2024
7,400
3,292
10,692
30.79%
22.80%
2023
5,540
2,505
8,045
31.14%
22.83%
2022
2,417
1,180
3,597
32.81%
23.10%
2021
1,293
751
2,044
36.74%
22.81%
2020
1,445
164
1,609
10.19%
21.51%
2019
2,619
928
3,547
26.16%
22.66%
Commercial Auto Liability
Year
Claims Received and Closed
Claims Closed without Payment
Total Claims Received and Closed
Percentage of Claims Closed without Payment
Percentage of Claims Closed without Payment
National Average
2024
168
70
238
29.41%
47.78%
2023
129
38
167
22.75%
47.29%
2022
159
55
214
25.70%
45.44%
2021
198
57
255
22.35%
44.40%
2020
253
85
338
25.15%
42.45%
2019
318
83
401
20.70%
44.33%
Commercial Multiple Peril
Year
Claims Received and Closed
Claims Closed without Payment
Total Claims Received and Closed
Percentage of Claims Closed without Payment
Percentage of Claims Closed without Payment
National Average
2024
192
53
245
21.63%
41.49%
2023
257
90
347
25.94%
38.64%
2022
323
122
445
27.42%
39.39%
2021
339
155
494
31.38%
40.41%
2020
377
375
752
49.87%
48.09%
2019
312
200
512
39.06%
43.30%
Homeowners & Farmowners
Year
Claims Received and Closed
Claims Closed without Payment
Total Claims Received and Closed
Percentage of Claims Closed without Payment
Percentage of Claims Closed without Payment
National Average
2024
1,624
278
1,902
14.62%
39.63%
2023
1,414
228
1,642
13.89%
36.96%
2022
593
72
665
10.83%
37.07%
2021
570
181
751
24.10%
39.17%
2020
763
223
986
22.62%
35.42%
2019
619
143
762
18.77%
35.34%
Other Liability: Occurrence
Year
Claims Received and Closed
Claims Closed without Payment
Total Claims Received and Closed
Percentage of Claims Closed without Payment
Percentage of Claims Closed without Payment
National Average
2024
3
3
6
50.00%
12.77%
2023
8
6
14
42.86%
16.34%
2022
13
6
19
31.58%
11.13%
2021
5
4
9
44.44%
18.93%
2020
12
11
23
47.83%
20.93%
2019
8
8
16
50.00%
16.90%
Private Passenger Auto Liability
Year
Claims Received and Closed
Claims Closed without Payment
Total Claims Received and Closed
Percentage of Claims Closed without Payment
Percentage of Claims Closed without Payment
National Average
2024
1,697
705
2,402
29.35%
45.00%
2023
1,403
492
1,895
25.96%
44.64%
2022
644
248
892
27.80%
46.15%
2021
531
109
640
17.03%
46.87%
2020
594
101
695
14.53%
43.90%
2019
1,162
218
1,380
15.80%
42.09%
Workers' Compensation
Year
Claims Received and Closed
Claims Closed without Payment
Total Claims Received and Closed
Percentage of Claims Closed without Payment
Percentage of Claims Closed without Payment
National Average
2024
384
75
459
16.34%
35.29%
2023
498
106
604
17.55%
35.67%
2022
574
159
733
21.69%
37.14%
2021
561
234
795
29.43%
35.46%
2020
398
157
555
28.29%
33.86%
2019
433
190
623
30.50%
34.01%