Major Rating Factors:
Fair profitability index (3.7 on a scale of 0 to 10) with operating losses during 2022 and 2024. A history of deficient reserves (2.4) that places pressure on both capital and profits. In 2024 and 2025 the two year reserve development was 29.4% and 61.7% deficient respectively. Good long-term capitalization index (5.9) based on good current risk adjusted capital (severe loss scenarios) reflecting significant improvement over results in 2024.
Other Rating Factors:
Good overall results on stability tests (5.6) despite weak risk adjusted capital in prior years and negative cash flow from operations for 2025. Excellent liquidity (7.1) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
F - Negative cash flow.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (100.0%)
Licensed in:
CA, NV, OR, WA
Principal Investments:
Investment grade bonds (51.2%), cash (48.3%), other (0.5%)
Corporate Info
Group Affiliation
AP Omaha National LLC
Investment Rating
--
Company Address
9110 W Dodge Road
Omaha, NE 68114
Omaha, NE 68114
Phone Number
(844) 761-8400
NAIC Number
32107
Website
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