Major Rating Factors:
Fair reserve development (3.7 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair profitability index (4.8) with operating losses during 2020, 2021 and the first nine months of 2024. Average return on equity over the last five years has been poor at -0.9%. Fair overall results on stability tests (3.3) including excessive premium growth.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
Principal Lines of Business:
Reinsurance (100.0%)
Licensed in:
NH, NJ, NY, RI
Principal Investments:
Cash (90.9%), other (9.1%)
Corporate Info
Group Affiliation
Heritage Ins Holdings Inc
Investment Rating
Company Address
1301 Atwood Avenue
Johnston, RI 02919
Johnston, RI 02919
Phone Number
(401) 725-5600
NAIC Number
14931
Website
Largest Affiliates