D
FREMONT INS CO
FremontIL
Rating Date
December 2023
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: Weak overall results on stability tests (1.8 on a scale of 0 to 10) including potential drain of affiliation with Auto Club Ins Assn, weak results on operational trends and negative cash flow from operations for 2022. Fair profitability index (3.9) with operating losses during 2022. Return on equity has been low, averaging 3.0% over the past five years.
Other Rating Factors: Good liquidity (5.4) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (9.4) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Ample reserve history (8.7) that helps to protect the company against sharp claims increases.
Stability Factors: F - Negative cash flow. R - Concerns about the financial strength of its reinsurers. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Personal/comm auto (51.4%), homeowners (23.0%), comm multi (12.1%), farmowners (3.4%), work comp (3.3%), fire (0.2%), other (6.6%)
Licensed in: IN, IA, MI, WI
Principal Investments: Investment grade bonds (88.6%), real estate (0.8%), other (10.5%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
Auto Club Ins Assn
Investment Rating
--
Company Address
933 E Main Street
FREMONT, MI 49412
Phone Number
(313) 336-9002
NAIC Number
13994
Largest Affiliates
B
DEARBORN, MI - P&C
C
Dearborn, MI - L&A
B
DEARBORN, MI - P&C
C
TAMPA, FL - P&C
C
DEARBORN, MI - P&C
Weiss Ratings