Major Rating Factors:
Good quality investment portfolio (6.2 on a scale of 0 to 10) despite significant exposure to mortgages . Mortgage default rate has been low. large holdings of BBB rated bonds in addition to small junk bond holdings. Good Liquidity (6.3) with sufficient resources to handle a spike in claims as well as a significant increase in policy surrenders. Weak profitability (2.0) with investment income below regulatory standards in relation to interest assumptions of reserves.
Other Rating Factors:
Weak overall results on stability tests (2.9) including negative cash flow from operations for 2023 and weak results on operational trends. Strong capitalization (8.7) based on excellent risk adjusted capital (severe loss scenario).
Stability Factors:
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Other (100%)
Licensed in:
All states except NY, PR
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
Assurant Inc
Investment Rating
--
Company Address
2323 GRAND BOULEVARD
WAVERLY, IA 50677
WAVERLY, IA 50677
Phone Number
(608) 238-5851
NAIC Number
70408
Website
Largest Affiliates