Major Rating Factors:
Good liquidity (6.7 on a scale of 0 to 10) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Fair reserve development (4.8) as reserves have generally been sufficient to cover claims. Fair profitability index (2.9) with operating losses during 2020, 2021 and 2022. Average return on equity over the last five years has been poor at -4.0%.
Other Rating Factors:
Strong long-term capitalization index (7.8) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Excellent overall results on stability tests (8.1). Stability strengths include excellent operational trends and excellent risk diversification.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (64.9%), homeowners (34.2%), other (0.8%)
Licensed in:
FL
Principal Investments:
Investment grade bonds (75.1%), common stock (4.0%), other (20.9%)
Corporate Info
Group Affiliation
Auto Club Ins Association Group
Investment Rating
--
Company Address
9125 Henderson Road
Tampa, FL 33634
Tampa, FL 33634
Phone Number
(888) 929-4222
NAIC Number
12813
Website
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