C
SAMSUNG FIRE & MARINE INS CO LTD US
Data as of
March 31, 2022
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
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Major Rating Factors: Weak overall results on stability tests (2.5 on a scale of 0 to 10) including weak results on operational trends. The largest net exposure for one risk is acceptable at 2.5% of capital. Fair reserve development (4.4) as the level of reserves has at times been insufficient to cover claims. In 2018 and 2017 the two year reserve development was 25% and 86% deficient respectively.
Other Rating Factors: Fair profitability index (4.9) with operating losses during 2017. Strong long-term capitalization index (8.3) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Excellent liquidity (7.0) 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 (30.8%), product liab. (23.0%), work comp (6.2%), fire (2.5%), personal/comm auto (0.1%), other (37.4%)
Licensed in: All states except AK, MS, MT, ND, SD, WY, PR
Principal Investments: Investment grade bonds (83.2%), cash (16.8%)
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Investments in Affiliates
Corporate Info
Group Affiliation
Samsung Fire & Marine Ins Co Ltd
Investment Rating
--
Company Address
1133 Westchester Avenue 1st Fl
WHITE PLAINS, NY 10604
Phone Number
(201) 807-6720
NAIC Number
38300
Largest Affiliates
No affiliate information available.
Weiss Ratings