Major Rating Factors:
Good long-term capitalization index (5.5 on a scale of 0 to 10) based on fair current risk adjusted capital (moderate loss scenarios), although results have slipped from the weak range during the last year. A history of deficient reserves (2.3) that places pressure on both capital and profits. Deficiencies in the two year reserve development occurred in three of the previous five years and ranged between 36.7% and 55.9%. Good overall profitability index (6.1) despite operating losses during 2021. Return on equity has been fair, averaging 7.6% over the past five years.
Other Rating Factors:
Good liquidity (6.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (6.3) despite fair risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification.
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:
Work comp (32.1%), personal/comm auto (19.3%), product liab. (7.3%), med mal (0.8%), other (40.5%)
Licensed in:
All states except CA, DE, HI, ME, MN, NJ, NY, OR, SD, WI
Principal Investments:
Investment grade bonds (79.9%), cash (12.6%), preferred stock (4.2%), common stock (2.5%), other (0.8%)
Corporate Info
Group Affiliation
James River Group Holdings Ltd
Investment Rating
Company Address
6131 Falls of Neuse Road
Raleigh, NC 27609
Raleigh, NC 27609
Phone Number
(919) 882-3585
NAIC Number
11828
Largest Affiliates