SAMSUNG FIRE & MARINE INS CO LTD US
Major Rating Factors:
Fair overall results on stability tests (3.5 on a scale of 0 to 10) including weak results on operational trends and excessive premium growth. The largest net exposure for one risk is acceptable at 2.3% of capital. History of adequate reserve strength (5.8) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Strong long-term capitalization index (8.6) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Excellent profitability (8.4) with operating gains in each of the last five years. Excellent expense controls. Superior liquidity (9.4) 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 (17.3%), product liab. (8.4%), work comp (2.1%), fire (1.1%), other (71.1%)
Licensed in:
All states except AK, MS, MT, ND, SD, WY, PR
Principal Investments:
Investment grade bonds (78.9%), cash (21.1%)