First Mutual Ins Co
Major Rating Factors:
Fair profitability index (4.3 on a scale of 0 to 10) with operating losses during 2020, 2022, 2023 and the first six months of 2025. Return on equity has been low, averaging 1.8% over the past five years. Weak overall results on stability tests (2.5) including weak risk diversification and negative cash flow from operations for 2024. Strong long-term capitalization index (8.7) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors:
Ample reserve history (9.2) that helps to protect the company against sharp claims increases. Excellent liquidity (8.3) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (44.1%), farmowners (4.0%), other (51.9%)
Licensed in:
NC, SC, TN
Principal Investments:
Common stock (28.7%), cash (25.0%), investment grade bonds (24.9%), preferred stock (14.6%), other (6.9%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
614 East Market Street
Smithfield, NC 27577
Smithfield, NC 27577
Phone Number
(919) 934-6111
NAIC Number
43877
Website
Largest Affiliates
No affiliate information available.