Major Rating Factors:
Strong long-term capitalization index (7.4 on a scale of 0 to 10) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2020. Ample reserve history (8.2) that helps to protect the company against sharp claims increases. Excellent profitability index (8.8) with operating gains in each of the last five years. Return on equity has been good over the last five years, averaging 10.4%.
Other Rating Factors:
Excellent overall results on stability tests (8.6). Stability strengths include excellent operational trends, good risk adjusted capital for prior years and excellent risk diversification. Good liquidity (6.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
L - Past results on our liquidity tests.
Principal Lines of Business:
Work comp (66.0%), personal/comm auto (7.7%), fire (5.9%), comm multi (1.3%), homeowners (0.2%), other (18.9%)
Licensed in:
All states
Principal Investments:
Investment grade bonds (49.2%), common stock (17.3%), non investment grade bonds (4.5%), real estate (2.2%), other (26.8%)
Corporate Info
Group Affiliation
Blue Cross Blue Shield of Michigan Mutual Ins Co
Investment Rating
--
Company Address
200 North Grand Avenue
Lansing, MI 48933
Lansing, MI 48933
Phone Number
(866) 206-5851
NAIC Number
10166
Website
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