Major Rating Factors:
Fair reserve development (4.8 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair profitability index (3.7) with operating losses during 2022, 2023 and the first nine months of 2024. Average return on equity over the last five years has been poor at -0.7%. Weak overall results on stability tests (2.7) including weak results on operational trends.
Other Rating Factors:
Strong long-term capitalization index (7.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Excellent liquidity (8.3) with ample operational cash flow and liquid investments.
Stability Factors:
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:
Personal/comm auto (59.2%), work comp (24.4%), other (16.4%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (55.1%), cash (3.7%), other (41.3%)
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