Major Rating Factors:
Fair long-term capitalization index (3.9 on a scale of 0 to 10) based on fair current risk adjusted capital (moderate loss scenarios). Weak profitability index (0.3) with operating losses during 2022 and 2023. Average return on equity over the last five years has been poor at -82.0%. A history of deficient reserves (3.0). Underreserving can have an adverse impact on capital and profits. In four of the last five years reserves (two year development) were between 35.5% and 713.5% deficient.
Other Rating Factors:
Fair overall results on stability tests (4.2) including weak risk adjusted capital in prior years, weak results on operational trends and negative cash flow from operations for 2024. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
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:
Work comp (100.0%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (76.6%), common stock (11.7%), non investment grade bonds (6.9%), cash (0.4%), other (4.4%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
--
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
100 Lackawanna Avenue
Scranton, PA 18503
Scranton, PA 18503
Phone Number
(570) 963-4635
NAIC Number
27677
Largest Affiliates
No affiliate information available.