Major Rating Factors:
Fair reserve development (4.2 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Good long-term capitalization index (6.2) based on good current risk adjusted capital (severe loss scenarios) reflecting some improvement over results in 2022. Good overall profitability index (6.0) despite operating losses during 2020. Return on equity has been low, averaging 3.4% over the past five years.
Other Rating Factors:
Excellent liquidity (8.2) with ample operational cash flow and liquid investments. Excellent overall results on stability tests (7.6). Stability strengths include excellent operational trends and excellent risk diversification. The largest net exposure for one risk is conservative at 1.5% of capital.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (4.4%), work comp (3.5%), fire (2.9%), comm multi (2.5%), fin guar/surety (2.4%), med mal (1.2%), homeowners (1.1%), product liab. (0.7%), other (81.4%)
Licensed in:
All states and GU, PR, VI
Principal Investments:
Investment grade bonds (61.9%), common stock (22.3%), non investment grade bonds (10.4%), cash (2.2%), preferred stock (0.1%), other (3.0%)
Corporate Info
Group Affiliation
Sompo Holdings Inc
Investment Rating
--
Company Address
Four Manhattanville Road
Purchase, NY 10577
Purchase, NY 10577
Phone Number
(914) 468-8000
NAIC Number
11551
Website
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