Major Rating Factors:
Good long-term capitalization index (5.4 on a scale of 0 to 10) based on good current risk adjusted capital (moderate loss scenarios), although results have slipped from the fair range during the last year. Fair profitability index (3.2) with operating losses during 2022 and 2023. Average return on equity over the last five years has been poor at -0.3%. Fair overall results on stability tests (3.7) including weak risk adjusted capital in prior years and negative cash flow from operations for 2024.
Other Rating Factors:
Good liquidity (6.8) 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.
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (87.7%), fin guar/surety (0.1%), other (12.2%)
Licensed in:
DC, GA, NY, PA
Principal Investments:
Common stock (37.3%), investment grade bonds (28.3%), cash (28.3%), other (6.2%)
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
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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
No affiliate information available.