C
FLORIDA PENINSULA INS CO
Rating Date
December 2023
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: Fair profitability index (3.9 on a scale of 0 to 10) with operating losses during 2018, 2019 and 2020. Average return on equity over the last five years has been poor at -1.5%. Fair overall results on stability tests (3.9) including weak results on operational trends and excessive premium growth.
Other Rating Factors: Good overall long-term capitalization (5.8) based on good current risk adjusted capital (moderate loss scenario). However, capital levels have fluctuated somewhat during past years. Good liquidity (6.8) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Ample reserve history (7.0) that can protect against increases in claims costs.
Stability Factors: T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Homeowners (99.8%), other (0.2%)
Licensed in: FL, SC
Principal Investments: Investment grade bonds (54.9%), common stock (22.8%), cash (17.3%), non investment grade bonds (0.8%), other (4.2%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
Florida Peninsula Holdings LLC
Investment Rating
--
Company Address
903 NW 65th Street Suite 200
Boca Raton, FL 33487
Phone Number
(561) 994-8366
NAIC Number
10132
Largest Affiliates
D
Boca Raton, FL - P&C
Weiss Ratings