Major Rating Factors:
Fair profitability index (3.8 on a scale of 0 to 10) with operating losses during 2020, 2021, 2022 and the first three months of 2025. Average return on equity over the last five years has been poor at -2.6%. Good long-term capitalization index (5.5) based on good current risk adjusted capital (severe loss scenarios) reflecting some improvement over results in 2022. History of adequate reserve strength (6.3) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Good liquidity (6.5) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (6.2) despite fair risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (100.0%)
Licensed in:
All states except NY
Principal Investments:
Investment grade bonds (91.2%), cash (8.2%), other (0.5%)
Corporate Info
Group Affiliation
Gray Family
Investment Rating
--
Company Address
6907 North Capital of Texas Highway
Austin, TX 78731
Austin, TX 78731
Phone Number
(512) 637-3100
NAIC Number
39152
Website
Largest Affiliates