Major Rating Factors:
Fair profitability index (4.2 on a scale of 0 to 10) with operating losses during 2022 and 2023. Return on equity has been low, averaging 0.5% over the past five years. Good long-term capitalization index (6.2) based on good current risk adjusted capital (severe loss scenarios), although results have slipped from the excellent range during the last year. Fair reserve development (4.9) as reserves have generally been sufficient to cover claims.
Other Rating Factors:
Weak overall results on stability tests (2.7) including weak results on operational trends and fair risk adjusted capital in prior years. Superior liquidity (9.1) with ample operational cash flow and liquid investments.
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
D - Limited diversification of general business, policy, and/or investment risk.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (31.9%), personal/comm auto (29.8%), comm multi (0.4%), other (37.9%)
Licensed in:
AZ
Principal Investments:
Investment grade bonds (90.7%), other (9.3%)
Corporate Info
Group Affiliation
Ambac Financial Group Inc
Investment Rating
Company Address
One World Trade Center
New York, NY 10007
New York, NY 10007
Phone Number
212 658 7470
NAIC Number
10184
Website
Largest Affiliates