State Farm FL Ins Co
Major Rating Factors:
Good overall profitability index (5.0 on a scale of 0 to 10) despite operating losses during 2020 and 2022. Return on equity has been low, averaging 0.1% over the past five years. Strong long-term capitalization index (7.9) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Excellent liquidity (7.9) with ample operational cash flow and liquid investments.
Other Rating Factors:
Excellent overall results on stability tests (7.9). Strengths include potentially strong support from affiliation with State Farm Mutual Automobile Ins Co, good operational trends and excellent risk diversification. A history of deficient reserves (2.7) that places pressure on both capital and profits. In four of the last five years reserves (two year development) were between 17.4% and 30.0% deficient.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (85.2%), comm multi (3.4%), other (11.4%)
Licensed in:
FL, IL
Principal Investments:
Investment grade bonds (95.0%), other (5.0%)
Corporate Info
Group Affiliation
State Farm Mutual Automobile Ins Co
Investment Rating
--
Company Address
215 S. Monroe St.
Tallahassee, FL 32301
Tallahassee, FL 32301
Phone Number
(850) 577-5600
NAIC Number
10739
Website
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