Major Rating Factors:
Poor long-term capitalization index (0.6 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios), although results have slipped from the fair range over the last two years. A history of deficient reserves (0.2) that places pressure on both capital and profits. In the last five years, reserves (two year development) fluctuated between 47.4% and 101.1% deficient. Weak profitability index (2.1) with operating losses during 2021, 2022, 2023 and 2024.
Other Rating Factors:
Fair overall results on stability tests (3.1) including weak risk adjusted capital in prior years, weak results on operational trends and negative cash flow from operations for 2024. The largest net exposure for one risk is conservative at 1.8% of capital. Good liquidity (6.3) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
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:
Homeowners (42.9%), comm multi (12.9%), work comp (6.3%), fire (6.0%), product liab. (2.1%), personal/comm auto (2.1%), fin guar/surety (0.1%), other (27.7%)
Licensed in:
IL, IN, MI, SD
Principal Investments:
Investment grade bonds (81.2%), non investment grade bonds (2.5%), common stock (0.2%), other (16.1%)
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
Bishop Street Underwriters LLC
Investment Rating
--
Company Address
3001 W. Big Beaver Rd.
Troy, MI 48084
Troy, MI 48084
Phone Number
(248) 559-0840
NAIC Number
29734
Website
Largest Affiliates