Major Rating Factors:
Fair reserve development (3.3 on a scale of 0 to 10) as the level of reserves has at times been insufficient to cover claims. In four of the last five years reserves (two year development) were between 17.9% and 30.7% deficient. Fair profitability index (3.7) with operating losses during 2020, 2022 and 2024. Average return on equity over the last five years has been poor at -3.8%. Good long-term capitalization index (6.9) based on excellent current risk adjusted capital (severe loss scenarios) reflecting significant improvement over results in 2020.
Other Rating Factors:
Good liquidity (6.8) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (6.8) despite fair risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification. The largest net exposure for one risk is conservative at 2.0% of capital.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Fire (29.7%), homeowners (11.5%), personal/comm auto (7.9%), fin guar/surety (5.4%), comm multi (1.5%), farmowners (0.5%), med mal (0.4%), work comp (0.3%), product liab. (0.3%), other (42.5%)
Licensed in:
All states except AR, CO, CT, FL, GA, KS, MA, MD, ME, MO, MT, NH, NJ, NV, SC, SD, VA, VT, WV, WY
Principal Investments:
Investment grade bonds (86.2%), common stock (5.7%), other (8.1%)
Corporate Info
Group Affiliation
SCOR SE
Investment Rating
--
Company Address
28 Liberty Street
New York, NY 10005
New York, NY 10005
Phone Number
(212) 480-1900
NAIC Number
30058
Website
--
Largest Affiliates