Major Rating Factors:
Fair reserve development (3.6 on a scale of 0 to 10) as the level of reserves has at times been insufficient to cover claims. In 2022 and 2023 the two year reserve development was 19.0% and 24.6% deficient respectively. Fair profitability index (3.9) with operating losses during 2021, 2022 and 2023. Fair overall results on stability tests (4.5) including excessive premium growth and fair risk adjusted capital in prior years.
Other Rating Factors:
Fair long-term capitalization index (4.4) based on fair current risk adjusted capital (severe loss scenarios), although results have slipped from the good range during the last year. Excellent liquidity (7.0) 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.
Principal Lines of Business:
Reinsurance (100.0%)
Licensed in:
All states
Principal Investments:
Investment grade bonds (90.3%), other (9.7%)
Corporate Info
Group Affiliation
Zurich Ins Group AG
Investment Rating
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Company Address
Four World Trade Center
New York, NY 10007
New York, NY 10007
Phone Number
(212) 859-2640
NAIC Number
34649
Website
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