KOOKMIN BEST INS CO LTD US BR
Major Rating Factors:
Poor long-term capitalization index (2.5 on a scale of 0 to 10) based on weak current risk adjusted capital (moderate loss scenario). Weak profitability index (1.5) with operating losses during each of the last five years and the first six months of 2022.
Other Rating Factors:
Weak overall results on stability tests (2.3) including weak risk adjusted capital in prior years and negative cash flow from operations for 2021. The largest net exposure for one risk is acceptable at 3.0% of capital. Fair reserve development (3.8) as reserves have generally been sufficient to cover claims. Good liquidity (6.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
F - Negative cash flow.
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 (94.3%), fire (0.8%), other (4.9%)
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 (74.7%), cash (25.3%)
Corporate Info
Group Affiliation
KB Ins Co Ltd
Investment Rating
--
Company Address
163-10 Northern Blvd Suite 206
FLUSHING, NY 11358
FLUSHING, NY 11358
Phone Number
(201) 720-2100
NAIC Number
37800
Website
Largest Affiliates
No affiliate information available.
