Major Rating Factors:
Poor long-term capitalization index (0.5 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios), although results have slipped from the fair range during the last year. A history of deficient reserves (1.3) that places pressure on both capital and profits. Deficiencies in the two year reserve development occurred in three of the previous five years and ranged between 18.2% and 71.9%. Weak profitability index (0.9) with operating losses during 2024. Average return on equity over the last five years has been poor at -5.8%.
Other Rating Factors:
Fair overall results on stability tests (2.9) including weak risk adjusted capital in prior years and weak results on operational trends. The largest net exposure for one risk is excessive at 9.2% of capital. Superior liquidity (9.0) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (100.0%)
Licensed in:
CT, FL, HI, IL, KS, KY, MA, MD, NC, NH, NJ, NM, NV, PA, SC, UT, WA
Principal Investments:
Investment grade bonds (95.4%), cash (2.4%), non investment grade bonds (0.3%), other (1.9%)
Corporate Info
Group Affiliation
Prime Holdings Ins Services Inc
Investment Rating
--
Company Address
8722 South Harrison Street
Sandy, UT 84070
Sandy, UT 84070
Phone Number
(801) 304-5500
NAIC Number
14371
Website
Largest Affiliates