Safepoint Ins Co
Major Rating Factors:
Fair profitability index (3.8 on a scale of 0 to 10) with operating losses during 2019, 2023 and the first nine months of 2024. Average return on equity over the last five years has been poor at -2.7%. Fair overall results on stability tests (3.7) including weak results on operational trends. The largest net exposure for one risk is conservative at 1.1% of capital. History of adequate reserve strength (5.9) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Strong long-term capitalization index (7.6) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2019. Excellent liquidity (7.5) with ample operational cash flow and liquid investments.
Stability Factors:
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (50.8%), comm multi (6.4%), fire (5.4%), other (37.5%)
Licensed in:
AL, FL, LA, MS, NJ, TX
Principal Investments:
Investment grade bonds (33.1%), preferred stock (13.7%), cash (11.6%), real estate (1.0%), non investment grade bonds (0.3%), other (40.2%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
Safepoint Holdings Inc
Investment Rating
--
Company Address
12640 Telecom Drive
Temple Terrace, FL 33637
Temple Terrace, FL 33637
Phone Number
(813) 651-3400
NAIC Number
15341
Website
Largest Affiliates