FIRST PENN-PACIFIC LIFE INS CO
Major Rating Factors:
Fair profitability (4.0 on a scale of 0 to 10). Excellent expense controls. Return on equity has been fair, averaging 5.6%. Fair Liquidity (3.6) as cash from operations and sale of marketable assets may not be adequate to cover a spike in claims or a run on policy withdrawals. Fair overall results on stability tests (3.1) including weak results on operational trends and negative cash flow from operations for 2022.
Other Rating Factors:
Good quality investment portfolio (6.6). Strong capitalization (8.0) based on excellent risk adjusted capital (severe loss scenario).
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
F - Negative cash flow.
L - Past results on our liquidity tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Group life (1.0%), ind annuities (0.7%), other (98.3%)
Licensed in:
All states except NY, PR