Major Rating Factors: Fair overall results on stability tests (4.5 on a scale of 0 to 10) including fair financial strength of affiliated BRH Holdings GP Ltd, negative cash flow from operations for 2021 and excessive premium growth. Fair quality investment portfolio (4.3) with large holdings of BBB rated bonds in addition to junk bond exposure equal to 68% of capital. Fair profitability (3.7) with operating losses during the first six months of 2022.
Other Rating Factors: Good capitalization (6.9) based on good risk adjusted capital (severe loss scenario). Excellent liquidity (9.6).
Stability Factors: A - Financial problems or weaknesses of a parent or affiliate company. F - Negative cash flow. G - Fast asset or premium growth. I - Past results on our Investment Safety Index. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Group annuities (97.9%), ind annuities (1.6%), other (0.5%)
Licensed in: All states except PR