Major Rating Factors:
Fair profitability (4.9 on a scale of 0 to 10). Return on equity has been fair, averaging 6.6%. Fair overall results on stability tests (3.0) including weak results on operational trends and negative cash flow from operations for 2024. Good quality investment portfolio (5.4) despite mixed results such as: minimal exposure to mortgages and large holdings of BBB rated bonds but small junk bond holdings.
Other Rating Factors:
Strong overall capitalization (7.3) based on mixed results -- excessive policy leverage mitigated by excellent risk adjusted capital (severe loss scenario). Excellent Liquidity (7.8).
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
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Licensed in:
All states except NY
Investments
Invested Assets
Cash
CMO & Structured Securities
Other Investment Grade Bonds
Non-Investment Grade Bonds
Common & Preferred Stock
Mortgages in Good Standing
Non-Performing Mortgages
Real Estate
Other Investments
Investments in Affiliates
Corporate Info
Group Affiliation
None
Investment Rating
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Company Address
1675 Broadway #1200
Phoenix, AZ 85021
Phoenix, AZ 85021
Phone Number
(512) 719-2240
NAIC Number
66850
Largest Affiliates