Major Rating Factors:
Good liquidity (6.5 on a scale of 0 to 10) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (5.4) despite excessive premium growth. Stability strengths include excellent operational trends and good risk diversification. Fair profitability index (4.8) with operating losses during 2022 and 2023.
Other Rating Factors:
Strong long-term capitalization index (8.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Ample reserve history (7.3) that can protect against increases in claims costs.
Stability Factors:
Principal Lines of Business:
Personal/comm auto (49.3%), homeowners (39.5%), fire (7.7%), other (3.4%)
Licensed in:
MI
Principal Investments:
Investment grade bonds (51.7%), common stock (40.8%), cash (1.5%), real estate (0.8%), other (5.3%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
201 Quincy Street
Hancock, MI 49930
Hancock, MI 49930
Phone Number
(906) 482-2880
NAIC Number
30376
Website
Largest Affiliates
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