Major Rating Factors:
A history of deficient reserves (2.8 on a scale of 0 to 10). Underreserving can have an adverse impact on capital and profits. Deficiencies in the two year reserve development occurred in three of the previous five years and ranged between 17.4% and 51.8%. Weak profitability index (0.5) with operating losses during each of the last five years. Good overall results on stability tests (6.6) despite weak risk adjusted capital in prior years and negative cash flow from operations for 2024. Stability strengths include good operational trends and excellent risk diversification.
Other Rating Factors:
Strong long-term capitalization index (7.3) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2023. Superior liquidity (10.0) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
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 (62.2%), comm multi (6.6%), fire (1.8%), other (29.4%)
Licensed in:
AL, FL, HI, LA, MA, MS, NC, OK, SC, TX
Principal Investments:
Cash (32.9%), investment grade bonds (19.3%), common stock (18.9%), real estate (7.2%), other (21.7%)
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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