Cypress P&C Ins Co
Major Rating Factors:
History of adequate reserve strength (6.5 on a scale of 0 to 10) as reserves have been consistently at an acceptable level. Good liquidity (6.4) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Fair profitability index (3.9) with operating losses during 2021 and 2022. Average return on equity over the last five years has been poor at -13.6%.
Other Rating Factors:
Fair overall results on stability tests (3.8) including weak results on operational trends and good risk adjusted capital in prior years. The largest net exposure for one risk is high at 4.6% of capital. Strong long-term capitalization index (7.6) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2022.
Stability Factors:
G - Fast asset or premium growth.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (83.3%), fire (7.7%), comm multi (0.2%), other (8.8%)
Licensed in:
FL, TX
Principal Investments:
Investment grade bonds (21.6%), other (78.4%)
Corporate Info
Group Affiliation
Milestone FS Insure LP
Investment Rating
--
Company Address
12926 Gran Bay Parkway West
Jacksonville, FL 32258
Jacksonville, FL 32258
Phone Number
(904) 992-4492
NAIC Number
10953
Website
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