Major Rating Factors:
Good overall results on stability tests (5.0 on a scale of 0 to 10) including excessive premium growth. Strengths include potentially strong support from affiliation with Genworth Financial Inc. Fair reserve development (3.6) as reserves have generally been sufficient to cover claims. Fair profitability index (4.9) with operating gains in each of the last five years. Return on equity has been low, averaging 1.7% over the past five years.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. 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.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Reinsurance (100.0%)
Licensed in:
NC
Principal Investments:
Investment grade bonds (73.0%), cash (0.4%), other (26.6%)
Corporate Info
Group Affiliation
Genworth Financial Inc
Investment Rating
Company Address
8325 Six Forks Road
Raleigh, NC 27615
Raleigh, NC 27615
Phone Number
(919) 846-4100
NAIC Number
11049
Website
Largest Affiliates