Major Rating Factors:
Poor long-term capitalization index (0.0 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). A history of deficient reserves (0.3) that places pressure on both capital and profits. In the last five years, reserves (two year development) fluctuated between 35.5% and 713.5% deficient. Weak profitability index (0.2) with operating losses during 2022, 2023 and the first three months of 2025. Average return on equity over the last five years has been poor at -131.5%.
Other Rating Factors:
Vulnerable liquidity (2.7) as a spike in claims may stretch capacity. Weak overall results on stability tests (2.7) including weak risk adjusted capital in prior years, weak results on operational trends and negative cash flow from operations for 2024.
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 (77.1%), common stock (14.7%), non investment grade bonds (6.3%), cash (0.2%), other (1.6%)
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.