UNITED AUTOMOBILE INS CO
Major Rating Factors:
A history of deficient reserves (0.4 on a scale of 0 to 10) that places pressure on both capital and profits. In the last five years, reserves (two year development) fluctuated between 101% and 71% deficeint. Weak profitability index (2.8) with operating losses during 2018 and 2022. Return on equity has been low, averaging 0.2% over the past five years.
Other Rating Factors:
Vulnerable liquidity (1.5) as a spike in claims may stretch capacity. Weak overall results on stability tests (0.6) including weak results on operational trends. Fair long-term capitalization index (4.2) based on fair current risk adjusted capital (moderate loss scenario).
Stability Factors:
L - Past results on our liquidity tests.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (100.0%)
Licensed in:
AZ, AR, FL, GA, IL, IN, KS, KY, LA, MS, NE, NV, OK, PA, SC, UT
Principal Investments:
Investment grade bonds (67.2%), cash (18.9%), real estate (1.6%), non investment grade bonds (0.2%), other (12.1%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
1313 North West 167th Street
Miami Gardens, FL 33169
Miami Gardens, FL 33169
Phone Number
(305) 940-7299
NAIC Number
35319
Website
Largest Affiliates
No affiliate information available.
