Major Rating Factors:
Fair reserve development (3.6 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair profitability index (4.8) with small operating losses during 2021. Return on equity has been low, averaging 0.6% over the past five years. Fair overall results on stability tests (4.5) including excessive premium growth. Strengths include potentially strong support from affiliation with Genworth Financial Inc.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Reinsurance (100.0%)
Licensed in:
All states except CA, CT, MA, ME, WA, WY
Principal Investments:
Investment grade bonds (79.2%), cash (0.4%), other (20.4%)
Corporate Info
Group Affiliation
Genworth Financial Inc
Investment Rating
Company Address
8325 Six Forks Road
Raleigh, NC 27615
Raleigh, NC 27615
Phone Number
(919) 846-4100
NAIC Number
37095
Website
Largest Affiliates