Major Rating Factors:
Weak overall results on stability tests (0.2 on a scale of 0 to 10) including weak results on operational trends. The largest net exposure for one risk is excessive at 27.6% of capital. Good overall profitability index (6.5) with operating gains in each of the last five years. Return on equity has been fair, averaging 7.2% over the past five years. Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors:
History of adequate reserve strength (7.0) as reserves have been consistently at an acceptable level. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Fin guar/surety (100.0%)
Licensed in:
All states and PR, VI
Principal Investments:
Investment grade bonds (59.0%), common stock (9.7%), non investment grade bonds (5.0%), cash (0.7%), other (25.6%)
Corporate Info
Group Affiliation
None
Investment Rating
Company Address
1633 Broadway
New York, NY 10019
New York, NY 10019
Phone Number
(212) 974-0100
NAIC Number
30180
Largest Affiliates
No affiliate information available.