Major Rating Factors:
Poor long-term capitalization index (1.8 on a scale of 0 to 10) based on weak current risk adjusted capital (severe loss scenarios). A history of deficient reserves (1.4) that places pressure on both capital and profits. The one year reserve development was deficient in three of the last five years by between 16.3% and 64.4%. Weak profitability index (0.7) with operating losses during 2021, 2022, 2023 and 2024.
Other Rating Factors:
Weak overall results on stability tests (2.7) including weak risk adjusted capital in prior years, weak results on operational trends and negative cash flow from operations for 2024. The largest net exposure for one risk is excessive at 5.1% of capital. Vulnerable liquidity (2.9) as a spike in claims may stretch capacity.
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
C - Past results on our Risk-Adjusted Capital tests.
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:
Farmowners (66.8%), personal/comm auto (26.6%), comm multi (5.0%), homeowners (1.1%), fire (0.2%), other (0.3%)
Licensed in:
All states except CO, CT, ME, NH, NY, SD, TN, VT
Principal Investments:
Investment grade bonds (65.7%), common stock (0.2%), other (34.2%)
Corporate Info
Group Affiliation
Conifer Holdings Inc
Investment Rating
Company Address
3001 West Big Beaver Road
Troy, MI 48084
Troy, MI 48084
Phone Number
(248) 559-0840
NAIC Number
11932
Website
Largest Affiliates