Major Rating Factors:
Fair reserve development (4.2 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. In 2019 the two year reserve development was 18.6% deficient. Fair profitability index (4.4) with operating losses during 2019 and 2021. Return on equity has been low, averaging 1.9% over the past five years. Strong long-term capitalization index (7.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2019.
Other Rating Factors:
Excellent liquidity (7.1) with ample operational cash flow and liquid investments. Excellent overall results on stability tests (8.0). Stability strengths include excellent operational trends, good risk adjusted capital for prior years and excellent risk diversification. The largest net exposure for one risk is conservative at 1.0% of capital.
Stability Factors:
Principal Lines of Business:
Homeowners (27.1%), personal/comm auto (26.0%), fin guar/surety (5.4%), fire (4.1%), comm multi (3.1%), product liab. (0.7%), work comp (0.4%), other (33.4%)
Licensed in:
All states except AL, CT, FL, GA, LA, MA, MI, MS, ND, NH, NJ, NY, OK, PA, RI, SC, TX, VA, VT, WV
Principal Investments:
Investment grade bonds (44.0%), common stock (39.4%), non investment grade bonds (7.6%), cash (7.4%), preferred stock (1.6%)
Corporate Info
Group Affiliation
Goose Creek Capital Inc
Investment Rating
--
Company Address
4200 Six Forks Road
Raleigh, NC 27609
Raleigh, NC 27609
Phone Number
(919) 833-1600
NAIC Number
13234
Website
Largest Affiliates