C
SAMSUNG FIRE & MARINE INS CO LTD US
Rating Date
December 2023
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
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Assets
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Premiums
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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%)
Ratios
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Reserve to Surplus
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2-Year Reserve Development
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Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
1133 Westchester Avenue 1st Fl
WHITE PLAINS, NY 10604
Phone Number
(201) 708-6439
NAIC Number
38300
Largest Affiliates
No affiliate information available.
Weiss Ratings