Kookmin Best Ins Co Ltd
Major Rating Factors:
Fair long-term capitalization index (4.4 on a scale of 0 to 10) based on weak current risk adjusted capital (moderate loss scenarios), although results have slipped from the fair range over the last two years. A history of deficient reserves (1.5) that places pressure on both capital and profits. Deficiencies in the two year reserve development occurred in three of the previous five years and ranged between 19.5% and 68.4%. Weak profitability index (1.9) with operating losses during each of the last five years.
Other Rating Factors:
Weak overall results on stability tests (2.5) including weak results on operational trends, weak risk adjusted capital in prior years and negative cash flow from operations for 2024. The largest net exposure for one risk is excessive at 6.0% of capital. Good liquidity (6.2) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Fire (99.8%), comm multi (0.2%)
Licensed in:
AZ, CA, CO, DC, GA, HI, IL, IN, MA, MD, MI, NJ, NY, PA, SC, TX, VA, WA
Principal Investments:
Investment grade bonds (73.5%), cash (5.2%), other (21.3%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
55 Challenger Road
Ridgefield Park, NJ 07660
Ridgefield Park, NJ 07660
Phone Number
(201) 720-2100
NAIC Number
37800
Website
Largest Affiliates
No affiliate information available.