NORGUARD INS CO
Major Rating Factors:
Poor long-term capitalization index (2.5 on a scale of 0 to 10) based on weak current risk adjusted capital (moderate loss scenario). Weak overall results on stability tests (2.4) including weak results on operational trends. The largest net exposure for one risk is high at 3.7% of capital.
Other Rating Factors:
History of adequate reserve strength (5.2) as reserves have been consistently at an acceptable level. Good overall profitability index (6.8) with small operating losses during 2020 and 2021. Return on equity has been fair, averaging 5.7% over the past five years. Excellent liquidity (7.2) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (82.7%), comm multi (16.4%), other (0.9%)
Licensed in:
All states except PR
Principal Investments:
Investment grade bonds (72.7%), common stock (21.8%), cash (5.4%), other (0.1%)
Corporate Info
Group Affiliation
Berkshire-Hathaway
Investment Rating
--
Company Address
39 Public Square
WILKES-BARRE, PA 18701
WILKES-BARRE, PA 18701
Phone Number
(570) 825-9900x3071
NAIC Number
31470
Website
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