Major Rating Factors:
Weak profitability (1.1 on a scale of 0 to 10) with operating losses during 2022. Return on equity has been low, averaging -75.3%. Weak overall results on stability tests (0.2) including weak risk adjusted capital in prior years, weak results on operational trends and negative cash flow from operations for 2022. Fair capitalization (3.1) based on fair risk adjusted capital (severe loss scenario).
Other Rating Factors:
Good quality investment portfolio (6.8). Excellent Liquidity (7.5).
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
I - Past results on our Investment Safety Index.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Ind annuities (22.0%), other (78.0%)
Licensed in:
TX