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. Good liquidity (6.4) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (7.5) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors:
Excellent overall results on stability tests (7.8). 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:
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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