Major Rating Factors:
Good long-term capitalization index (6.1 on a scale of 0 to 10) based on good current risk adjusted capital (moderate loss scenarios) reflecting improvement over results in 2024. Fair reserve development (3.8) as the level of reserves has at times been insufficient to cover claims. In four of the last five years reserves (two year development) were between 15.4% and 37.3% deficient. Fair profitability index (4.4) with operating losses during 2021 and 2022.
Other Rating Factors:
Good liquidity (6.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (6.8) despite weak risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
Principal Lines of Business:
Homeowners (58.2%), comm multi (35.9%), fire (0.6%), other (5.3%)
Licensed in:
AL, FL, GA, MS, NC, SC
Principal Investments:
Investment grade bonds (64.9%), cash (16.3%), preferred stock (3.2%), other (15.6%)
Corporate Info
Group Affiliation
Heritage Ins Holdings Inc
Investment Rating
Company Address
1401 North Westshore Boulevard
Tampa, FL 33607
Tampa, FL 33607
Phone Number
(727) 362-7200
NAIC Number
14407
Website
Largest Affiliates