Major Rating Factors:
Good long-term capitalization index (6.8 on a scale of 0 to 10) based on excellent current risk adjusted capital (severe loss scenarios) reflecting improvement over results in 2020. Good overall profitability index (6.4) despite modest operating losses during the first six months of 2025. Return on equity has been fair, averaging 5.6% over the past five years. Good overall results on stability tests (6.0) despite negative cash flow from operations for 2024. Stability strengths include good operational trends, good risk adjusted capital for prior years and excellent risk diversification.
Other Rating Factors:
Ample reserve history (7.0) that can protect against increases in claims costs. Superior liquidity (10.0) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (91.4%), fire (6.2%), other (2.4%)
Licensed in:
All states except CT, HI, ME, MN, WY
Principal Investments:
Cash (45.5%), preferred stock (15.8%), investment grade bonds (8.8%), non investment grade bonds (0.2%), other (29.7%)
Corporate Info
Group Affiliation
Constitution Group Llc
Investment Rating
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Company Address
10805 Old Mill Road
Omaha, NE 68154
Omaha, NE 68154
Phone Number
(402) 827-3424
NAIC Number
32190
Website
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