Major Rating Factors:
Fair reserve development (4.8 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. In 2020 the two year reserve development was 44.6% deficient. Fair profitability index (4.3) with operating losses during 2020 and 2024. Return on equity has been fair, averaging 5.9% over the past five years. Fair overall results on stability tests (3.2) including excessive premium growth, weak risk adjusted capital in prior years and weak results on operational trends. Strengths include potentially strong support from affiliation with Auto Club Ins Association Group.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2020. Superior liquidity (9.9) with ample operational cash flow and liquid investments.
Stability Factors:
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 (70.0%), homeowners (28.5%), other (1.5%)
Licensed in:
NC, SC
Principal Investments:
Cash (60.5%), investment grade bonds (36.8%), other (2.6%)
Corporate Info
Group Affiliation
Auto Club Ins Association Group
Investment Rating
--
Company Address
3426 Toringdon Way
Charlotte, NC 28277
Charlotte, NC 28277
Phone Number
(336) 771-0400
NAIC Number
32972
Website
Largest Affiliates