Major Rating Factors:
Fair reserve development (3.6 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair overall results on stability tests (4.7) including excessive premium growth. Good profitability index (4.9) with operating gains in each of the last five years. Excellent expense controls. Return on equity has been low, averaging 2.5% over the past five years.
Other Rating Factors:
Good liquidity (6.7) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years.
Stability Factors:
G - Fast asset or premium growth.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (55.3%), farmowners (25.6%), homeowners (17.9%), other (1.2%)
Licensed in:
CT, DE, IN, KY, MA, MD, ME, MO, NH, NJ, NY, OH, PA, RI, TN, VA, VT
Principal Investments:
Investment grade bonds (90.1%), non investment grade bonds (1.6%), other (8.4%)
Corporate Info
Group Affiliation
Virginia Farm Bureau Federation
Investment Rating
--
Company Address
12580 West Creek Parkway
Richmond, VA 23238
Richmond, VA 23238
Phone Number
(804) 290-1000
NAIC Number
10022
Website
Largest Affiliates