Major Rating Factors:
Fair overall results on stability tests (3.0 on a scale of 0 to 10) including fair financial strength of affiliated Sumitomo Life Ins Company, excessive premium growth, negative cash flow from operations for 2023 and fair risk adjusted capital in prior years. Fair quality investment portfolio (4.2) with significant exposure to mortgages . Mortgage default rate has been low. Good capitalization (5.8) based on good risk adjusted capital (moderate loss scenario).
Other Rating Factors:
Good Liquidity (6.0). Weak profitability (2.0) with operating losses during the first nine months of 2024.
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
C - Past results on our Risk-Adjusted Capital tests.
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:
Other (100%)
Licensed in:
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
Sumitomo Life Ins Company
Investment Rating
--
Company Address
420 LEXINGTON AVE SUITE 300
NEW YORK, NY 10170
NEW YORK, NY 10170
Phone Number
(425) 256-8000
NAIC Number
78417
Website
Largest Affiliates