Ocean Harbor Casualty Ins Co
Major Rating Factors:
A history of deficient reserves (0.8 on a scale of 0 to 10) that places pressure on both capital and profits. In four of the last five years reserves (two year development) were between 32.4% and 76.0% deficient. Vulnerable liquidity (1.5) as a spike in claims may stretch capacity. Fair long-term capitalization index (4.6) based on fair current risk adjusted capital (severe loss scenarios), although results have slipped from the good range over the last two years.
Other Rating Factors:
Good overall profitability index (6.5) despite operating losses during 2022. Good overall results on stability tests (5.8) 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:
Personal/comm auto (67.1%), homeowners (25.0%), fire (3.1%), other (4.7%)
Licensed in:
AL, CA, FL, LA, MS, NJ, NY, OK, SC, TX
Principal Investments:
Investment grade bonds (73.6%), common stock (7.4%), cash (7.2%), preferred stock (4.4%), non investment grade bonds (0.8%), other (6.6%)
Corporate Info
Group Affiliation
Milo Family 2016 Appointed Trust
Investment Rating
--
Company Address
2549 Barrington Circle
Tallahassee, FL 32308
Tallahassee, FL 32308
Phone Number
(850) 386-1115
NAIC Number
12360
Website
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