Major Rating Factors:
Good overall profitability index (6.8 on a scale of 0 to 10) despite modest operating losses during the first three months of 2025. Return on equity has been low, averaging 2.8% over the past five years. Fair reserve development (3.7) as the level of reserves has at times been insufficient to cover claims. In 2023 and 2024 the two year reserve development was 17.5% and 23.4% deficient respectively. Strong long-term capitalization index (7.3) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors:
Excellent liquidity (7.2) with ample operational cash flow and liquid investments. Excellent overall results on stability tests (7.4). Stability strengths include excellent operational trends and excellent risk diversification. The largest net exposure for one risk is conservative at 1.8% of capital.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Med mal (96.6%), work comp (2.1%), other (1.2%)
Licensed in:
All states except NY
Principal Investments:
Investment grade bonds (70.1%), common stock (17.9%), non investment grade bonds (0.5%), cash (0.3%), other (11.1%)
Corporate Info
Group Affiliation
MAG Mutual Holding Co
Investment Rating
--
Company Address
3535 Piedmont Road, NE
Atlanta, GA 30305
Atlanta, GA 30305
Phone Number
(404) 842-5600
NAIC Number
42617
Website
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