Major Rating Factors:
Fair overall results on stability tests (4.0 on a scale of 0 to 10) including weak results on operational trends and negative cash flow from operations for 2024. History of adequate reserve strength (6.6) as reserves have been consistently at an acceptable level. Strong long-term capitalization index (8.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors:
Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Weak profitability index (2.5) with operating losses during 2022, 2023 and 2024. Average return on equity over the last five years has been poor at -6.3%.
Stability Factors:
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (83.3%), personal/comm auto (4.4%), comm multi (3.2%), fire (1.2%), other (7.8%)
Licensed in:
SC
Principal Investments:
Investment grade bonds (68.2%), common stock (19.0%), cash (8.6%), preferred stock (1.7%), real estate (0.3%), other (2.1%)
Corporate Info
Group Affiliation
South Carolina Farm Bureau Federation
Investment Rating
--
Company Address
724 Knox Abbott Drive
Cayce, SC 29033
Cayce, SC 29033
Phone Number
(803) 796-6700
NAIC Number
15164
Website
Largest Affiliates