Major Rating Factors:
Good overall profitability index (5.6 on a scale of 0 to 10) despite operating losses during 2023. Good liquidity (6.3) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Fair overall results on stability tests (3.4) including. The largest net exposure for one risk is excessive at 9.1% of capital. Strengths include potentially strong support from affiliation with Frankenmuth Ins Co.
Other Rating Factors:
Strong long-term capitalization index (8.6) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Ample reserve history (7.0) that can protect against increases in claims costs.
Stability Factors:
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Personal/comm auto (39.3%), comm multi (23.3%), homeowners (20.1%), work comp (5.4%), fin guar/surety (1.6%), fire (0.7%), product liab. (0.2%), other (9.4%)
Licensed in:
MA, ME, MI, NH, VT
Principal Investments:
Investment grade bonds (89.8%), real estate (5.7%), other (4.5%)
Corporate Info
Group Affiliation
Frankenmuth Ins Co
Investment Rating
--
Company Address
701 U.S. Route One
Yarmouth, ME 04096
Yarmouth, ME 04096
Phone Number
(207) 847-1800
NAIC Number
32069
Largest Affiliates