PELEUS INS CO
Major Rating Factors:
Weak overall results on stability tests (2.5 on a scale of 0 to 10) including potential drain of affiliation with Argo Group Intl Holdings Ltd, weak results on operational trends and negative cash flow from operations for 2022.
Other Rating Factors:
Fair profitability index (4.2) with operating losses during 2022. Return on equity has been low, averaging 3.2% over the past five years. Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Comm multi (11.7%), product liab. (3.0%), other (85.3%)
Licensed in:
All states except PR
Principal Investments:
Investment grade bonds (89.4%), cash (0.5%), other (10.1%)
Corporate Info
Group Affiliation
Argo Group Intl Holdings Ltd
Investment Rating
Company Address
8720 Stony Point Pkwy Suite 40
RICHMOND, VA 23235
RICHMOND, VA 23235
Phone Number
(800) 470-7958x8411
NAIC Number
34118
Largest Affiliates
