Major Rating Factors:
A history of deficient reserves (2.2 on a scale of 0 to 10) that places pressure on both capital and profits. In the last five years, reserves (two year development) fluctuated between 16.9% and 48.8% deficient. Good long-term capitalization index (6.9) based on good current risk adjusted capital (moderate loss scenarios), although results have slipped from the weak range during the last year. Good overall profitability index (6.6) despite operating losses during 2020. Return on equity has been fair, averaging 7.1% over the past five years.
Other Rating Factors:
Excellent liquidity (7.0) with ample operational cash flow and liquid investments. Excellent overall results on stability tests (6.9) despite negative cash flow from operations for 2023 and 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.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Product liab. (11.7%), personal/comm auto (4.7%), work comp (2.0%), med mal (1.3%), fire (0.8%), other (79.4%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (67.9%), non investment grade bonds (9.5%), cash (8.6%), common stock (5.3%), preferred stock (2.0%), other (6.7%)
Corporate Info
Group Affiliation
James River Group Holdings Ltd
Investment Rating
Company Address
6641 West Broad Street
Richmond, VA 23230
Richmond, VA 23230
Phone Number
(804) 289-2700
NAIC Number
12203
Largest Affiliates