Major Rating Factors:
Fair profitability index (4.1 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. Fair liquidity (3.6) as cash resources may not be adequate to cover a spike in claims. Fair overall results on stability tests (4.4) including. The largest net exposure for one risk is excessive at 6.4% of capital. Strengths include potentially strong support from affiliation with Western Reserve Group.
Other Rating Factors:
Strong long-term capitalization index (8.9) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Ample reserve history (9.2) that helps to protect the company against sharp claims increases.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
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 (88.0%), farmowners (4.8%), homeowners (3.7%), comm multi (2.5%), fire (0.2%), other (0.8%)
Licensed in:
IN, OH
Principal Investments:
Investment grade bonds (75.9%), common stock (17.6%), other (6.5%)
Corporate Info
Group Affiliation
Western Reserve Group
Investment Rating
--
Company Address
2865 Benden Drive
Wooster, OH 44691
Wooster, OH 44691
Phone Number
(330) 262-9060
NAIC Number
10271
Website
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