Major Rating Factors:
Weak profitability index (1.8 on a scale of 0 to 10) with operating losses during 2020, 2022, 2023, 2024 and the first six months of 2025. Average return on equity over the last five years has been poor at -10.2%. Weak overall results on stability tests (1.0) including weak results on operational trends, weak risk diversification and negative cash flow from operations for 2024. The largest net exposure for one risk is excessive at 5.9% of capital. Good long-term capitalization index (5.5) based on fair current risk adjusted capital (moderate loss scenarios), although results have slipped from the good range during the last year.
Other Rating Factors:
History of adequate reserve strength (6.9) as reserves have been consistently at an acceptable level. Excellent liquidity (7.5) with ample operational cash flow and liquid investments.
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:
Homeowners (44.0%), comm multi (22.0%), fire (12.0%), farmowners (10.2%), other (11.9%)
Licensed in:
NY
Principal Investments:
Investment grade bonds (71.2%), common stock (17.9%), cash (9.0%), real estate (1.9%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
8146 State Highway Seven
Schenevus, NY 12155
Schenevus, NY 12155
Phone Number
(607) 638-9741
NAIC Number
30350
Largest Affiliates
No affiliate information available.