Major Rating Factors:
Fair reserve development (4.0 on a scale of 0 to 10) as the level of reserves has at times been insufficient to cover claims. In 2021 and 2023 the one year reserve development was 18.3% and 72.4% deficient respectively. Fair profitability index (2.9) with operating losses during 2021, 2022 and 2023. Weak overall results on stability tests (2.9) including excessive premium growth, weak risk adjusted capital in prior years and negative cash flow from operations for 2025.
Other Rating Factors:
Strong long-term capitalization index (9.6) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2020. Superior liquidity (9.6) 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.
Principal Lines of Business:
Reinsurance (100.0%)
Licensed in:
TN
Principal Investments:
Investment grade bonds (70.6%), cash (23.8%), other (5.6%)
Corporate Info
Group Affiliation
Cover Me Ins Agency Of NJ Inc
Investment Rating
--
Company Address
424 Church Street
Nashville, TN 37219
Nashville, TN 37219
Phone Number
(843) 872-3310
NAIC Number
15836
Website
Largest Affiliates