Clover Ins Co
Major Rating Factors:
Weak profitability index (0.9 on a scale of 0 to 10) with operating losses during 2019, 2020, 2021 and 2023. Average return on equity over the last five years has been poor at -86.4%. Good capitalization (5.8) based on good current risk-adjusted capital (severe loss scenario) reflecting some improvement over results in 2019. Good overall results on stability tests (6.5) based on consistent premium and capital growth in the last five years but a decline in enrollment during 2023.
Other Rating Factors:
Good liquidity (5.3) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Excellent quality investment portfolio (9.5) containing small junk bond exposure.
Principal Lines of Business:
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Licensed in:
All states except MI, NC, NH, NY, VT
Principal Enrollment Breakdown:
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Other Highlights
Medical Loss Ratio
Medical Expense
Per Member Per Month ($)
Provider Compensation ($000)
Capitation Pay
Fee For Service
Contractual Pay
Salary
Bonus
Other
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Member Physicians
Enrollment
Total Patient Encounters
Physician
Non-Physician
Corporate Info
Group Affiliation
Clover Health Investments Corp
Investment Rating
Company Address
30 Montgomery Street
Jersey City, NJ 07302
Jersey City, NJ 07302
Phone Number
(201) 432-2133
NAIC Number
86371
Website
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