Major Rating Factors:
Poor long-term capitalization index (1.7 on a scale of 0 to 10) based on weak current risk adjusted capital (severe loss scenarios). A history of deficient reserves (2.4) that places pressure on both capital and profits. Deficiencies in the two year reserve development occurred in three of the previous five years and ranged between 30.9% and 58.6%. Good overall profitability index (5.4) despite operating losses during 2021 and the first nine months of 2024. Return on equity has been fair, averaging 5.9% over the past five years.
Other Rating Factors:
Good liquidity (6.4) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (6.0) despite weak risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification.
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:
Product liab. (12.5%), personal/comm auto (9.4%), work comp (7.4%), med mal (1.4%), other (69.3%)
Licensed in:
OH, VA
Principal Investments:
Investment grade bonds (89.1%), cash (6.9%), common stock (2.8%), preferred stock (0.9%), other (0.3%)
Corporate Info
Group Affiliation
James River Group Holdings Ltd
Investment Rating
Company Address
6641 West Broad Street
Richmond, VA 23230
Richmond, VA 23230
Phone Number
(804) 289-2713
NAIC Number
13685
Largest Affiliates