SafeChoice Ins Co
Major Rating Factors:
Fair reserve development (4.8 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair profitability index (4.8) with operating losses during 2021, 2022 and 2023. Average return on equity over the last five years has been poor at -1.6%. Weak overall results on stability tests (2.3) including weak results on operational trends. The largest net exposure for one risk is excessive at 10.5% of capital.
Other Rating Factors:
Strong long-term capitalization index (8.5) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Superior liquidity (10.0) 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.
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 (82.2%), fire (17.8%)
Licensed in:
NY
Principal Investments:
Investment grade bonds (56.0%), cash (38.0%), other (5.9%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
6320 Venture Drive
Lakewood Ranch, FL 34202
Lakewood Ranch, FL 34202
Phone Number
(941) 757-3991
NAIC Number
31399
Website
Largest Affiliates
No affiliate information available.