Major Rating Factors:
Good overall profitability index (5.2 on a scale of 0 to 10) despite a decline in earnings during 2022. Good quality investment portfolio (6.1) containing junk bond exposure equal to 65.1% of capital. Good liquidity (6.7) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Excellent capitalization index (10.0) based on good current risk-adjusted capital (severe loss scenario) despite some fluctuation in capital levels. Excellent overall results on stability tests (7.3) based on steady enrollment growth, averaging 3% over the past five years, consistent premium and capital growth in the last five years.
Principal Lines of Business:
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Licensed in:
WA
Principal Enrollment Breakdown:
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