D
KOOKMIN BEST INS CO LTD US BR
Rating Date
December 2023
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: Weak profitability index (1.5 on a scale of 0 to 10) with operating losses during each of the last five years. Weak overall results on stability tests (2.3) including weak results on operational trends. The largest net exposure for one risk is acceptable at 3.0% of capital.
Other Rating Factors: Fair long-term capitalization index (3.1) based on fair current risk adjusted capital (moderate loss scenario). Fair reserve development (3.3) as reserves have generally been sufficient to cover claims. In 2022, the two year reserve development was 20% deficient. Excellent liquidity (7.2) with ample operational cash flow and liquid investments.
Stability Factors: R - Concerns about the financial strength of its reinsurers. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Comm multi (93.6%), fire (1.1%), other (5.3%)
Licensed in: AZ, CA, CO, DC, GA, HI, IL, IN, MD, MA, MI, NJ, NY, PA, SC, TX, VA, WA
Principal Investments: Investment grade bonds (77.7%), cash (19.1%), other (3.2%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
163-10 Northern Blvd Suite 206
FLUSHING, NY 11358
Phone Number
(201) 720-7143
NAIC Number
37800
Largest Affiliates
No affiliate information available.
Weiss Ratings