Major Rating Factors:
Good overall results on stability tests (5.8 on a scale of 0 to 10) despite excessive premium growth. Other stability subfactors include potentially strong support from affiliation with CopperPoint Mutual Ins Holding Co, good operational trends and excellent risk diversification. Fair reserve development (3.6) as reserves have generally been sufficient to cover claims. Fair profitability index (3.4) with operating losses during each of the last five years and the first six months of 2024. Average return on equity over the last five years has been poor at -5.4%.
Other Rating Factors:
Strong long-term capitalization index (8.3) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. 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.
Principal Lines of Business:
Work comp (100.0%)
Licensed in:
AZ, CO, HI, ID, IL, KS, LA, MO, MT, NM, NV, OK, TX, UT, WA, WY
Principal Investments:
Common stock (57.3%), investment grade bonds (33.9%), cash (2.8%), other (6.0%)
Corporate Info
Group Affiliation
CopperPoint Mutual Ins Holding Co
Investment Rating
--
Company Address
3030 North Third Street
Phoenix, AZ 85012
Phoenix, AZ 85012
Phone Number
(602) 631-2000
NAIC Number
12741
Website
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