Major Rating Factors:
Fair reserve development (4.9 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair profitability index (4.7). Good expense controls. Return on equity has been fair, averaging 11.6% over the past five years.
Other Rating Factors:
Fair overall results on stability tests (3.5) including fair financial strength of affiliated MAPFRE Ins Group, weak results on operational trends and negative cash flow from operations for 2022. The largest net exposure for one risk is high at 3.7% of capital. Good liquidity (5.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (8.4) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Stability Factors:
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (92.0%), homeowners (8.0%)
Licensed in:
AZ, CA, CO, NV, NY, OR, UT, WA
Principal Investments:
Investment grade bonds (96.1%), cash (3.9%)
Corporate Info
Group Affiliation
MAPFRE Ins Group
Investment Rating
--
Company Address
2633 CAMINO RAMON SUITE 300
SAN RAMON, CA 94583
SAN RAMON, CA 94583
Phone Number
(508) 943-9000
NAIC Number
13161
Website
Largest Affiliates
