Major Rating Factors:
Good overall profitability index (6.6 on a scale of 0 to 10) despite operating losses during 2020. Excellent expense controls. Return on equity has been fair, averaging 6.5% over the past five years. Good overall results on stability tests (5.0) including excessive premium growth. Fair reserve development (4.9) as reserves have generally been sufficient to cover claims.
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. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
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 (89.0%), personal/comm auto (10.9%), other (0.1%)
Licensed in:
All states except AK, NY, WA
Principal Investments:
Investment grade bonds (44.9%), cash (6.9%), other (48.2%)
Corporate Info
Group Affiliation
PBRA (Cayman) Co
Investment Rating
--
Company Address
B-7 Calle Tabonuco Street
Guaynabo, PR 00968
Guaynabo, PR 00968
Phone Number
(787) 339-2100
NAIC Number
11089
Largest Affiliates