National Mortgage Re Inc One
Major Rating Factors:
Fair reserve development (3.6 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Weak profitability index (1.9) with operating losses during 2022 and 2023. Return on equity has been fair, averaging 6.8% over the past five years. Weak overall results on stability tests (2.6) including excessive premium growth. Strengths include potentially strong support from affiliation with NMI Holdings Inc.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
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:
Reinsurance (100.0%)
Licensed in:
CA, WI
Principal Investments:
Cash (11.3%), other (88.7%)
Corporate Info
Group Affiliation
NMI Holdings Inc
Investment Rating
Company Address
2100 Powell Street
Emeryville, CA 94608
Emeryville, CA 94608
Phone Number
(855) 873-2584
NAIC Number
13758
Website
Largest Affiliates