Major Rating Factors:
Fair profitability index (4.9 on a scale of 0 to 10) with small operating losses during 2022. Return on equity has been low, averaging 2.7% over the past five years. Vulnerable liquidity (3.0) as a spike in claims may stretch capacity. Fair overall results on stability tests (3.8) including excessive premium growth and fair risk adjusted capital in prior years.
Other Rating Factors:
History of adequate reserve strength (5.1) as reserves have been consistently at an acceptable level. Strong long-term capitalization index (9.2) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2020.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
L - Past results on our liquidity tests.
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 (40.5%), cash (9.0%), other (50.6%)
Ratios
Premium to Surplus
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Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
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Combined Ratio
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Cash From Underwriting
Net Premium Growth
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Investments in Affiliates
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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