Major Rating Factors:
Fair profitability index (4.9 on a scale of 0 to 10) with small operating losses during 2022. Fair overall results on stability tests (3.9) including excessive premium growth, negative cash flow from operations for 2025 and fair risk adjusted capital in prior years. History of adequate reserve strength (6.0) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Strong long-term capitalization index (9.7) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2020. Excellent liquidity (7.9) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Work comp (100.0%)
Licensed in:
AL, AZ, IN, KY, LA, MO, NV, OK, SC
Principal Investments:
Investment grade bonds (55.4%), cash (27.2%), other (17.4%)
Corporate Info
Group Affiliation
Altaris LLC
Investment Rating
--
Company Address
150 Lake Street, West
Wayzata, MN 55391
Wayzata, MN 55391
Phone Number
(952) 974-2200
NAIC Number
15742
Website
Largest Affiliates