United Automobile Ins Co
Major Rating Factors:
Poor long-term capitalization index (2.8 on a scale of 0 to 10) based on weak current risk adjusted capital (severe loss scenarios), although results have slipped from the fair range during the last year. A history of deficient reserves (0.3). Underreserving can have an adverse impact on capital and profits. In the last five years, reserves (two year development) fluctuated between 45.6% and 164.6% deficient. Fair profitability index (3.8) with operating losses during 2022.
Other Rating Factors:
Good liquidity (6.1) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (6.2) despite fair risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
Principal Lines of Business:
Personal/comm auto (100.0%)
Licensed in:
AR, AZ, FL, GA, IL, IN, KS, KY, LA, MS, NE, NV, OK, PA, SC, UT
Principal Investments:
Investment grade bonds (70.6%), cash (6.5%), other (22.9%)
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
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