Major Rating Factors:
Good liquidity (6.4 on a scale of 0 to 10) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (6.3) despite negative cash flow from operations for 2024. Other stability subfactors include potentially strong support from affiliation with RetailFirst Mutual Holdings Inc, good operational trends and excellent risk diversification. Strong long-term capitalization index (8.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital has steadily grown over the last five years.
Other Rating Factors:
Ample reserve history (9.3) that helps to protect the company against sharp claims increases. Excellent profitability index (8.8) with operating gains in each of the last five years.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (100.0%)
Licensed in:
DC, DE, FL, GA, IN, KY, NC, SC, TN, VA
Principal Investments:
Investment grade bonds (81.0%), common stock (11.0%), non investment grade bonds (0.6%), other (7.3%)
Corporate Info
Group Affiliation
RetailFirst Mutual Holdings Inc
Investment Rating
--
Company Address
117 North Massachusetts Avenue
Lakeland, FL 33801
Lakeland, FL 33801
Phone Number
(863) 665-6060
NAIC Number
11697
Largest Affiliates