Major Rating Factors:
Fair reserve development (4.7 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair overall results on stability tests (4.4) including fair risk adjusted capital in prior years. The largest net exposure for one risk is high at 4.4% of capital. Good overall profitability index (5.1) despite operating losses during 2021 and 2022.
Other Rating Factors:
Good liquidity (6.7) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (7.4) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2022.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
G - Fast asset or premium growth.
Principal Lines of Business:
Homeowners (93.3%), fire (0.6%), other (6.1%)
Licensed in:
AL, MS
Principal Investments:
Investment grade bonds (84.9%), cash (13.7%), other (1.4%)
Corporate Info
Group Affiliation
Gulf States Holdings Inc
Investment Rating
--
Company Address
15th Place Office Building
Gulfport, MS 39501
Gulfport, MS 39501
Phone Number
(228) 897-9786
NAIC Number
13741
Website
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