Major Rating Factors:
History of adequate reserve strength (5.7 on a scale of 0 to 10) as reserves have been consistently at an acceptable level. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (6.5) despite negative cash flow from operations for 2023.
Other Rating Factors:
Fair profitability index (3.7) 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 -1.9%. Strong long-term capitalization index (8.7) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Stability Factors:
F - Negative cash flow.
Principal Lines of Business:
Homeowners (72.0%), personal/comm auto (13.1%), comm multi (7.3%), fire (1.6%), other (6.0%)
Licensed in:
CT, MA, RI, VT, WA
Principal Investments:
Investment grade bonds (63.6%), common stock (25.7%), cash (2.3%), real estate (2.2%), non investment grade bonds (1.9%), preferred stock (1.7%), other (2.7%)
Corporate Info
Group Affiliation
New London County Mutual Ins Co
Investment Rating
--
Company Address
101 High Street
Norwich, CT 06360
Norwich, CT 06360
Phone Number
(860) 887-3553
NAIC Number
14826
Website
Largest Affiliates