CLEAR SPRING AMERICAN INS CO
Major Rating Factors:
Poor long-term capitalization (2.4 on a scale of 0 to 10) based on weak current risk adjusted capital (moderate loss scenario), although results have slipped from the good range over the last two years. Vulnerable liquidity (2.8) as a spike in claims may stretch capacity.
Other Rating Factors:
Fair overall results on stability tests (3.1) including weak results on operational trends, weak risk adjusted capital in prior years and excessive premium growth. Good overall profitability index (5.6) despite modest operating losses during 2022. Return on equity has been low, averaging 4.0% over the past five years. Ample reserve history (8.8) that helps to protect the company against sharp claims increases.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
L - Past results on our liquidity tests.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (100.0%)
Licensed in:
PA, TX, WV
Principal Investments:
Investment grade bonds (79.4%), cash (10.6%), preferred stock (2.9%), common stock (0.5%), non investment grade bonds (0.4%), other (6.3%)
Corporate Info
Group Affiliation
Clear Spring Casualty Ins Co
Investment Rating
--
Company Address
46 Public Square Suite 501
Wilkes-Barre, PA 18701
Wilkes-Barre, PA 18701
Phone Number
(570) 270-9876
NAIC Number
11219
Website
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