Major Rating Factors:
Good overall profitability index (5.8 on a scale of 0 to 10) despite operating losses during 2020 and 2021. Return on equity has been fair, averaging 6.3% over the past five years. Good overall results on stability tests (6.0) despite negative cash flow from operations for 2024 and fair risk adjusted capital in prior years. Strong long-term capitalization index (9.2) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2021.
Other Rating Factors:
Excellent liquidity (7.0) with ample operational cash flow and liquid investments. A history of deficient reserves (1.4) that places pressure on both capital and profits. In 2024 the two year reserve development was 123.3% deficient.
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Comm multi (17.3%), fire (3.2%), personal/comm auto (1.2%), homeowners (0.8%), other (77.4%)
Licensed in:
All states
Principal Investments:
Investment grade bonds (90.9%), cash (2.2%), non investment grade bonds (0.2%), other (6.7%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
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Corporate Info
Group Affiliation
SCOR SE
Investment Rating
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Company Address
28 Liberty Street
New York, NY 10005
New York, NY 10005
Phone Number
(212) 480-1900
NAIC Number
39322
Website
Largest Affiliates