Major Rating Factors:
A history of deficient reserves (2.6 on a scale of 0 to 10) that places pressure on both capital and profits. The one year reserve development was deficient in three of the last five years by between 29.3% and 54.8%. Weak profitability index (0.5) with operating losses during each of the last five years and the first nine months of 2024. Average return on equity over the last five years has been poor at -128.1%. Good overall results on stability tests (5.2) despite weak risk adjusted capital in prior years and negative cash flow from operations for 2023.
Other Rating Factors:
Strong long-term capitalization index (7.9) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2023. Superior liquidity (9.6) with ample operational cash flow and liquid investments.
Stability Factors:
F - Negative cash flow.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (63.8%), comm multi (11.2%), fire (1.7%), other (23.3%)
Licensed in:
AL, FL, HI, LA, MA, MS, NC, OK, SC, TX
Principal Investments:
Real estate (35.6%), common stock (32.8%), investment grade bonds (30.7%), preferred stock (0.4%), other (0.4%)
Corporate Info
Group Affiliation
HJJ Holdings LLC
Investment Rating
--
Company Address
4081 Lakewood Ranch Boulevard N
Sarasota, FL 34240
Sarasota, FL 34240
Phone Number
(941) 870-0204
NAIC Number
12573
Website
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