Major Rating Factors:
Good long-term capitalization index (6.8 on a scale of 0 to 10) based on good current risk adjusted capital (severe loss scenarios), although results have slipped from the excellent range over the last two years. History of adequate reserve strength (5.2) as reserves have been consistently at an acceptable level. Fair profitability index (4.4) with operating losses during 2021, 2022 and 2023. Return on equity has been low, averaging 2.1% over the past five years.
Other Rating Factors:
Excellent liquidity (7.1) with ample operational cash flow and liquid investments. Excellent overall results on stability tests (7.2). Stability strengths include excellent operational trends, good risk adjusted capital for prior years and excellent risk diversification.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (29.1%), homeowners (22.7%), personal/comm auto (21.0%), comm multi (4.6%), fire (0.5%), other (22.1%)
Licensed in:
All states except NY
Principal Investments:
Investment grade bonds (68.8%), common stock (6.9%), cash (6.0%), preferred stock (1.0%), real estate (0.6%), non investment grade bonds (0.5%), other (16.3%)
Corporate Info
Group Affiliation
Altaris LLC
Investment Rating
--
Company Address
150 Lake Street, West
Wayzata, MN 55391
Wayzata, MN 55391
Phone Number
(952) 974-2265
NAIC Number
41394
Website
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