Major Rating Factors:
Strong long-term capitalization index (7.9 on a scale of 0 to 10) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2020. Ample reserve history (8.0) that helps to protect the company against sharp claims increases. Excellent profitability index (8.2) with operating gains in each of the last five years. Return on equity has been good over the last five years, averaging 10.3%.
Other Rating Factors:
Excellent liquidity (8.4) with ample operational cash flow and liquid investments. Good overall results on stability tests (6.6) despite negative cash flow from operations for 2024 and fair risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification.
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:
Work comp (100.0%)
Licensed in:
All states except ME, ND, NJ, NY, OH, OR, WA, WY
Principal Investments:
Investment grade bonds (86.1%), cash (5.0%), real estate (2.7%), common stock (1.6%), preferred stock (0.4%), non investment grade bonds (0.2%), other (4.0%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
1301 Sixth Avenue West
Bradenton, FL 34205
Bradenton, FL 34205
Phone Number
(941) 999-2420
NAIC Number
34762
Website
Largest Affiliates
No affiliate information available.