AMERICAN COASTAL INS CO
Major Rating Factors:
Weak profitability index (1.4 on a scale of 0 to 10) with operating losses during 2019, 2020 and 2021. Average return on equity over the last five years has been poor at -3.7%. Weak overall results on stability tests (2.3) including negative cash flow from operations for 2021. The largest net exposure for one risk is high at 4.0% of capital.
Other Rating Factors:
Fair reserve development (3.6) as reserves have generally been sufficient to cover claims. In 2020, the two year reserve development was 18% deficient. Fair liquidity (3.9) as cash resources may not be adequate to cover a spike in claims. Good long-term capitalization (5.4) based on good current risk adjusted capital (moderate loss scenario) reflecting improvement over results in 2021.
Stability Factors:
F - Negative cash flow.
L - Past results on our liquidity tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Other (100%)
Licensed in:
FL
Principal Investments:
Investment grade bonds (77.7%), common stock (5.3%), cash (4.6%), non investment grade bonds (0.2%), other (12.1%)
Corporate Info
Group Affiliation
Peed FLPI Ltd LLP
Investment Rating
--
Company Address
800 2nd Avenue South
ST. PETERSBURG, FL 33701
ST. PETERSBURG, FL 33701
Phone Number
(727) 895-7737
NAIC Number
12968
Website
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