First Mercury Ins Co
Major Rating Factors:
Fair reserve development (3.6 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Good profitability index (4.9) with operating losses during 2021. Excellent expense controls. Return on equity has been low, averaging 0.7% over the past five years. Good overall results on stability tests (6.7) despite excessive premium growth. Stability strengths include good operational trends and excellent risk diversification.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Superior liquidity (10.0) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
Principal Lines of Business:
Product liab. (39.9%), other (60.1%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (97.0%), cash (0.4%), other (2.7%)
Corporate Info
Group Affiliation
Fairfax Financial Holdings Limited
Investment Rating
--
Company Address
305 Madison Avenue
Morristown, NJ 07960
Morristown, NJ 07960
Phone Number
(973) 490-6600
NAIC Number
10657
Website
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