Major Rating Factors:
Good long-term capitalization index (6.6 on a scale of 0 to 10) based on excellent current risk adjusted capital (severe loss scenarios) reflecting improvement over results in 2023. Fair reserve development (4.1) as the level of reserves has at times been insufficient to cover claims. In 2021 and 2020 the two year reserve development was 17.3% and 18.1% deficient respectively. Excellent profitability index (8.4) with operating gains in each of the last five years. Return on equity has been excellent over the last five years averaging 15.8%.
Other Rating Factors:
Excellent liquidity (8.9) with ample operational cash flow and liquid investments. Excellent overall results on stability tests (8.2). Stability strengths include excellent operational trends, good risk adjusted capital for prior years and excellent risk diversification.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Fin guar/surety (14.4%), personal/comm auto (7.6%), fire (7.0%), comm multi (4.9%), work comp (2.6%), product liab. (1.0%), other (62.5%)
Licensed in:
All states and GU, PR, VI
Principal Investments:
Investment grade bonds (75.5%), common stock (23.0%), cash (0.2%), non investment grade bonds (0.1%), other (1.2%)
Corporate Info
Group Affiliation
Intact Financial Corporation
Investment Rating
--
Company Address
605 Highway 169 North
Plymouth, MN 55441
Plymouth, MN 55441
Phone Number
(800) 662-0156
NAIC Number
27154
Website
Largest Affiliates