Major Rating Factors:
Weak profitability index (2.4 on a scale of 0 to 10) with operating losses during 2022, 2023, 2024 and the first three months of 2025. Average return on equity over the last five years has been poor at -18.6%. Good long-term capitalization index (6.2) based on fair current risk adjusted capital (moderate loss scenarios), although results have slipped from the good range over the last two years. Fair reserve development (3.4) as reserves have generally been sufficient to cover claims.
Other Rating Factors:
Fair overall results on stability tests (3.5) including negative cash flow from operations for 2024 and fair risk adjusted capital in prior years. The largest net exposure for one risk is high at 4.0% of capital. Superior liquidity (9.3) 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.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (100.0%)
Licensed in:
IA, IL, IN, KS, KY, MI, MN, ND, NE, NM, NV, OH, SC, SD, TN, VA, WI
Principal Investments:
Investment grade bonds (44.5%), cash (42.1%), other (13.4%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
131 Dartmouth Street
Boston, MA 02116
Boston, MA 02116
Phone Number
(857) 990-9080
NAIC Number
33006
Website
Largest Affiliates
No affiliate information available.