Hugo Ins Exchange
Major Rating Factors:
Weak overall results on stability tests (2.1 on a scale of 0 to 10) including excessive premium growth, weak results on operational trends and weak risk diversification. The largest net exposure for one risk is high at 4.0% of capital. Fair reserve development (4.2) as reserves have generally been sufficient to cover claims. Fair profitability index (4.0) with operating losses during 2021 and 2024.
Other Rating Factors:
Good long-term capitalization index (6.0) based on good current risk adjusted capital (severe loss scenarios), although results have slipped from the excellent range during the last year. Excellent liquidity (8.8) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
G - Fast asset or premium growth.
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:
AL, AR, KY, LA, MS, NC, TN
Principal Investments:
Cash (54.9%), investment grade bonds (8.7%), other (36.3%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
8605 Santa Monica Blvd
West Hollywood, CA 90069
West Hollywood, CA 90069
Phone Number
(601) 981-4920
NAIC Number
36765
Website
Largest Affiliates
There are no affiliate to display.