Major Rating Factors:
Poor long-term capitalization index (2.3 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). A history of deficient reserves (1.1) that places pressure on both capital and profits. In the last five years, reserves (two year development) fluctuated between 33.7% and 68.2% deficient. Fair profitability index (4.9) with operating losses during 2021 and 2022. Average return on equity over the last five years has been poor at -0.7%.
Other Rating Factors:
Fair overall results on stability tests (3.1) including weak risk adjusted capital in prior years. Superior liquidity (9.8) 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.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (100.0%)
Licensed in:
AR, AZ, FL, GA, IA, ID, IN, KY, NE, NV, TN, WV
Principal Investments:
Investment grade bonds (45.8%), cash (18.6%), common stock (10.0%), real estate (5.6%), preferred stock (0.6%), non investment grade bonds (0.5%), other (18.9%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
1801 SW 3rd Avenue
Miami, FL 33129
Miami, FL 33129
Phone Number
(305) 442-2276
NAIC Number
32387
Website
Largest Affiliates
No affiliate information available.