B
FOREMOST INS CO
Rating Date
December 2023
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: Good overall results on stability tests (5.0 on a scale of 0 to 10) despite potential drain of affiliation with Farmers Insurance Group of Companies and weak results on operational trends. History of adequate reserve strength (5.0) as reserves have been consistently at an acceptable level.
Other Rating Factors: Good overall profitability index (6.9). Weak expense controls. Return on equity has been low, averaging 3.2% over the past five years. Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Superior liquidity (9.5) with ample operational cash flow and liquid investments.
Stability Factors: T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Homeowners (43.0%), fire (19.3%), personal/comm auto (16.3%), other (21.4%)
Licensed in: All states except PR
Principal Investments: Investment grade bonds (93.4%), common stock (3.6%), real estate (0.4%), non investment grade bonds (0.2%), other (2.3%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
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Combined Ratio
--
Cash From Underwriting
Net Premium Growth
--
Investments in Affiliates
Corporate Info
Group Affiliation
Farmers Insurance Group of Companies
Investment Rating
--
Company Address
5600 BEECH TREE LANE
CALEDONIA, MI 49316
Phone Number
(414) 369-5033
NAIC Number
11185
Largest Affiliates
C
WOODLAND HILLS, CA - P&C
B
WOODLAND HILLS, CA - P&C
B
WARWICK, RI - P&C
C
WOODLAND HILLS, CA - P&C
B
WOODLAND HILLS, CA - P&C
Weiss Ratings