Major Rating Factors:
A history of deficient reserves (2.1 on a scale of 0 to 10) that places pressure on both capital and profits. In the last five years, reserves (two year development) fluctuated between 16.2% and 51.8% deficient. Good overall profitability index (5.9) despite operating losses during 2021. Excellent expense controls. Good overall results on stability tests (6.4) despite. Stability strengths include good operational trends, good risk adjusted capital for prior years and excellent risk diversification. The largest net exposure for one risk is acceptable at 2.5% of capital.
Other Rating Factors:
Strong long-term capitalization index (7.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2021. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Comm multi (8.6%), fire (5.5%), other (85.9%)
Licensed in:
AZ, CA
Principal Investments:
Investment grade bonds (76.9%), cash (11.4%), common stock (5.1%), real estate (4.1%), other (2.4%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
1550 West Fremont Street
Stockton, CA 95203
Stockton, CA 95203
Phone Number
(209) 948-8191
NAIC Number
39861
Website
Largest Affiliates
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