B
Coverys Specialty Ins Co
BostonMA
Rating Date
April 2025
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
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Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: Fair reserve development (3.6 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Good profitability index (5.0). Excellent expense controls. Good overall results on stability tests (6.2) despite excessive premium growth. Stability strengths include good operational trends and excellent risk diversification.
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:
Principal Lines of Business: Med mal (86.4%), other (13.6%)
Licensed in: (No states)
Principal Investments: Investment grade bonds (93.5%), cash (6.0%), other (0.5%)
Ratios
Premium to Surplus
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Reserve to Surplus
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1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
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Combined Ratio
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Cash From Underwriting
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Net Premium Growth
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Investments in Affiliates
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Corporate Info
Group Affiliation
Medical Professional Mutual Ins Co
Investment Rating
--
Company Address
One Financial Center
Boston, MA 02111
Phone Number
(617) 330-1755
NAIC Number
15686
Largest Affiliates
B
B
Boston, MA - P&C
C
Boston, MA - P&C