Major Rating Factors:
Poor long-term capitalization index (1.0 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). A history of deficient reserves (0.9) that places pressure on both capital and profits. The one year reserve development was deficient in three of the last five years by between 40.2% and 59.3%. Weak profitability index (0.7) with operating losses during each of the last five years.
Other Rating Factors:
Fair liquidity (4.0) as cash resources may not be adequate to cover a spike in claims. Fair overall results on stability tests (3.0) including weak risk adjusted capital in prior years and weak results on operational trends.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (100.0%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (66.6%), cash (11.7%), other (21.7%)
Corporate Info
Group Affiliation
Matterhorn LLC
Investment Rating
--
Company Address
3605 Glenwood Avenue
Raleigh, NC 27612
Raleigh, NC 27612
Phone Number
(919) 832-0811
NAIC Number
13098
Website
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