Freedom Advantage Ins Co
Major Rating Factors:
Fair profitability index (4.0 on a scale of 0 to 10) with operating losses during 2020 and 2021. Return on equity has been low, averaging 0.0% over the past five years. Good long-term capitalization index (5.8) based on good current risk adjusted capital (severe loss scenarios) reflecting some improvement over results in 2022. Weak overall results on stability tests (2.7) including weak results on operational trends, negative cash flow from operations for 2023 and fair risk adjusted capital in prior years.
Other Rating Factors:
Ample reserve history (7.0) that can protect against increases in claims costs. Excellent liquidity (8.2) with ample operational cash flow and liquid investments.
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
G - Fast asset or premium growth.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (102.8%)
Licensed in:
PA
Principal Investments:
Investment grade bonds (66.4%), common stock (12.4%), cash (11.6%), other (9.6%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
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Corporate Info
Group Affiliation
Wilmington Holdings GP LLC
Investment Rating
--
Company Address
1403 Silverside Road
Wilmington, DE 19810
Wilmington, DE 19810
Phone Number
(336) 501-6777
NAIC Number
11831
Website
Largest Affiliates
