Major Rating Factors:
Fair profitability index (4.1 on a scale of 0 to 10) with operating losses during 2022 and 2023. Fair overall results on stability tests (3.6) including weak risk adjusted capital in prior years. Good long-term capitalization index (5.2) based on excellent current risk adjusted capital (severe loss scenarios) reflecting significant improvement over results in 2020.
Other Rating Factors:
Good liquidity (6.3) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Ample reserve history (10.0) that helps to protect the company against sharp claims increases.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Work comp (89.1%), other (10.9%)
Licensed in:
DC, GA, NY, PA
Principal Investments:
Common stock (46.5%), investment grade bonds (17.8%), cash (15.1%), other (20.5%)
Corporate Info
Group Affiliation
I P A Acquisitions Inc
Investment Rating
--
Company Address
129 South Eighth Street
Brooklyn, NY 11211
Brooklyn, NY 11211
Phone Number
(315) 768-2726
NAIC Number
30175
Website
Largest Affiliates
There are no affiliate to display.