Major Rating Factors:
Fair profitability index (3.5 on a scale of 0 to 10) with operating losses during 2021, 2022 and 2023. Average return on equity over the last five years has been poor at -0.2%. Strong long-term capitalization index (8.6) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. History of adequate reserve strength (6.9) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Excellent liquidity (7.3) with ample operational cash flow and liquid investments. Excellent overall results on stability tests (8.3). Stability strengths include excellent operational trends and excellent risk diversification.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (34.4%), comm multi (9.5%), work comp (4.0%), product liab. (1.0%), homeowners (0.1%), other (51.1%)
Licensed in:
IA, IL, IN, MN, MO, ND, NE, OH, OK, PA, SD, WI
Principal Investments:
Investment grade bonds (77.5%), common stock (12.3%), cash (7.1%), real estate (0.8%), non investment grade bonds (0.7%), preferred stock (0.4%), other (1.2%)
Corporate Info
Group Affiliation
Grinnell Mutual ReIns Co SI
Investment Rating
--
Company Address
4215 Highway 146, South
Grinnell, IA 50112
Grinnell, IA 50112
Phone Number
(641) 269-8000
NAIC Number
14117
Website
Largest Affiliates