Major Rating Factors:
Poor long-term capitalization index (2.2 on a scale of 0 to 10) based on fair current risk adjusted capital (severe loss scenarios) reflecting improvement over results in 2021. History of adequate reserve strength (5.6) as reserves have been consistently at an acceptable level. Good overall profitability index (6.7) despite operating losses during 2020. Return on equity has been good over the last five years, averaging 17.9%.
Other Rating Factors:
Good overall results on stability tests (6.5) despite weak risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification. The largest net exposure for one risk is acceptable at 2.2% of capital. Superior liquidity (9.2) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Comm multi (38.3%), homeowners (10.7%), other (51.0%)
Licensed in:
All states except CT, GA, NC, NH, NY, OH, TN
Principal Investments:
Investment grade bonds (69.0%), cash (28.8%), other (2.2%)
Corporate Info
Group Affiliation
GeoVera Nova Holdings Inc
Investment Rating
--
Company Address
4605 Business Center Drive
Fairfield, CA 94534
Fairfield, CA 94534
Phone Number
(707) 863-3681
NAIC Number
10799
Largest Affiliates