Covenant Ins Co
Major Rating Factors:
Strong long-term capitalization index (10.0 on a scale of 0 to 10) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Furthermore, this high level of risk adjusted capital has been consistently maintained in previous years. Ample reserve history (9.2) that helps to protect the company against sharp claims increases. Excellent profitability index (7.7) with operating gains in each of the last five years.
Other Rating Factors:
Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Excellent overall results on stability tests (7.0). Stability strengths include excellent operational trends and excellent risk diversification.
Stability Factors:
L - Past results on our liquidity tests.
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 (65.7%), homeowners (26.8%), comm multi (4.3%), work comp (0.8%), fire (0.2%), other (2.2%)
Licensed in:
CT, MA, NH, RI
Principal Investments:
Investment grade bonds (96.5%), other (3.5%)
Corporate Info
Group Affiliation
Arbella Ins Group
Investment Rating
--
Company Address
76 Batterson Park Road
Farmington, CT 06032
Farmington, CT 06032
Phone Number
(860) 255-0320
NAIC Number
10062
Website
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