C
NorGUARD Ins Co
Rating Date
June 2025
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
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Major Rating Factors: Fair long-term capitalization index (3.1 on a scale of 0 to 10) based on fair current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2020. Fair overall results on stability tests (4.7) including weak risk adjusted capital in prior years. The largest net exposure for one risk is excessive at 5.7% of capital. Strengths include potentially strong support from affiliation with Berkshire Hathaway Inc. A history of deficient reserves (2.6) that places pressure on both capital and profits. In 2024 the two year reserve development was 44.3% deficient.
Other Rating Factors: Weak profitability index (2.9) with operating losses during 2020, 2021, 2023, 2024 and the first three months of 2025. Average return on equity over the last five years has been poor at -5.5%. Superior liquidity (9.9) with ample operational cash flow and liquid investments.
Stability Factors: C - Past results on our Risk-Adjusted Capital tests. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Work comp (26.7%), comm multi (24.6%), personal/comm auto (23.5%), homeowners (19.2%), fire (0.2%), other (5.7%)
Licensed in: All states
Principal Investments: Investment grade bonds (69.1%), common stock (27.1%), cash (2.8%), other (0.9%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
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Net Premium Growth
Investments in Affiliates
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Corporate Info
Group Affiliation
Berkshire Hathaway Inc
Investment Rating
--
Company Address
39 Public Square
Wilkes-Barre, PA 18701
Phone Number
(570) 825-9900 3071
NAIC Number
31470
Largest Affiliates
A
Omaha, NE - P&C
B
Chevy Chase, MD - P&C
B
Omaha, NE - P&C
B
Stamford, CT - P&C