NorGUARD Ins Co
Major Rating Factors:
Fair long-term capitalization index (3.3 on a scale of 0 to 10) based on fair current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2019. 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. Weak profitability index (2.9) with operating losses during 2020, 2021, 2023 and 2024.
Other Rating Factors:
Good overall results on stability tests (5.2) despite weak risk adjusted capital in prior years. The largest net exposure for one risk is high at 4.7% of capital. Other stability subfactors include potentially strong support from affiliation with Berkshire Hathaway Inc, good operational trends and excellent risk diversification. Excellent liquidity (7.9) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
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%)
Corporate Info
Group Affiliation
Berkshire Hathaway Inc
Investment Rating
--
Company Address
39 Public Square
Wilkes-Barre, PA 18701
Wilkes-Barre, PA 18701
Phone Number
(570) 825-9900 3071
NAIC Number
31470
Website
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