Interboro Ins Co
Major Rating Factors:
Fair overall results on stability tests (4.4 on a scale of 0 to 10) including negative cash flow from operations for 2023. The largest net exposure for one risk is excessive at 6.6% of capital. Strengths include potentially strong support from affiliation with American Coastal Ins Corporation. Weak profitability index (2.2) with operating losses during 2020, 2021, 2022, 2023 and the first nine months of 2024. Average return on equity over the last five years has been poor at -6.1%. History of adequate reserve strength (6.8) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Good liquidity (6.4) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (7.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (99.3%), other (0.7%)
Licensed in:
AL, DC, LA, NY, SC
Principal Investments:
Investment grade bonds (75.4%), non investment grade bonds (0.3%), other (24.3%)
Corporate Info
Group Affiliation
American Coastal Ins Corporation
Investment Rating
Company Address
570 Carillon Parkway
Saint Petersburg, FL 33716
Saint Petersburg, FL 33716
Phone Number
(727) 633-0851
NAIC Number
14311
Largest Affiliates