Granada Indemnity Co
Major Rating Factors:
Strong long-term capitalization index (7.6 on a scale of 0 to 10) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Furthermore, this high level of risk adjusted capital has been consistently maintained in previous years. History of adequate reserve strength (6.9) as reserves have been consistently at an acceptable level. Superior liquidity (9.3) with ample operational cash flow and liquid investments.
Other Rating Factors:
Good overall profitability index (6.0) despite operating losses during 2021 and 2022. Return on equity has been low, averaging 1.7% over the past five years. Good overall results on stability tests (6.2) despite. Stability strengths include excellent operational trends and good risk diversification. The largest net exposure for one risk is conservative at 1.8% of capital.
Stability Factors:
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:
Comm multi (50.8%), personal/comm auto (22.9%), homeowners (17.1%), fire (5.7%), other (3.5%)
Licensed in:
AZ, CA, CT, DE, FL, GA, IL, MA, MD, MS, NC, ND, NJ, NY, OH, PA, SC, TX, VA
Principal Investments:
Investment grade bonds (67.6%), cash (32.2%), other (0.2%)
Corporate Info
Group Affiliation
Granada Financial Group
Investment Rating
--
Company Address
370 West Park Avenue
Long Beach, NY 11561
Long Beach, NY 11561
Phone Number
(516) 431-9191
NAIC Number
38148
Website
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