First Community Ins Co
Major Rating Factors:
Fair reserve development (3.1 on a scale of 0 to 10) as the level of reserves has at times been insufficient to cover claims. In 2023 and 2022 the two year reserve development was 29.6% and 34.9% deficient respectively. Fair profitability index (3.2) with operating losses during 2020, 2021, 2022 and 2023. Average return on equity over the last five years has been poor at -28.0%. Good overall results on stability tests (5.5) despite fair risk adjusted capital in prior years. Stability strengths include good operational trends and good risk diversification. The largest net exposure for one risk is acceptable at 2.2% of capital.
Other Rating Factors:
Strong long-term capitalization index (7.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2022. Superior liquidity (9.3) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Comm multi (22.0%), fin guar/surety (1.3%), other (76.7%)
Licensed in:
AZ, CO, CT, FL, LA, MD, MS, NC, NV, OH, SC, TX, VA, WA
Principal Investments:
Investment grade bonds (72.5%), cash (19.2%), common stock (5.1%), non investment grade bonds (1.8%), other (1.4%)
Corporate Info
Group Affiliation
Bankers Financial Corporation
Investment Rating
--
Company Address
11101 Roosevelt Boulevard, North
Saint Petersburg, FL 33716
Saint Petersburg, FL 33716
Phone Number
(727) 344-9797
NAIC Number
13990
Website
Largest Affiliates