Safepoint Ins Co
Major Rating Factors:
Fair profitability index (4.9 on a scale of 0 to 10) with operating losses during 2023. Fair overall results on stability tests (3.9) including weak results on operational trends and negative cash flow from operations for 2024. Strong long-term capitalization index (7.9) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2019.
Other Rating Factors:
Ample reserve history (7.6) that can protect against increases in claims costs. Excellent liquidity (7.2) with ample operational cash flow and liquid investments.
Stability Factors:
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (51.8%), fire (6.4%), comm multi (5.7%), other (36.1%)
Licensed in:
AL, FL, LA, MS, NJ, TX
Principal Investments:
Investment grade bonds (41.4%), preferred stock (11.3%), cash (3.9%), real estate (1.0%), non investment grade bonds (0.4%), common stock (0.1%), other (41.8%)
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