Major Rating Factors:
A history of deficient reserves (2.0 on a scale of 0 to 10) that places pressure on both capital and profits. In the last five years, reserves (two year development) fluctuated between 28.1% and 56.0% deficient. Poor long-term capitalization index (2.6) based on weak current risk adjusted capital (severe loss scenarios), although results have slipped from the fair range over the last two years. Fair profitability index (4.6) with operating losses during 2021.
Other Rating Factors:
Good liquidity (6.4) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (6.8) despite weak risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (10.0%), product liab. (8.0%), comm multi (6.3%), fire (3.8%), med mal (1.2%), other (70.7%)
Licensed in:
CA
Principal Investments:
Investment grade bonds (93.6%), cash (5.8%), other (0.6%)
Corporate Info
Group Affiliation
James River Group Holdings Inc
Investment Rating
Company Address
6131 Falls of Neuse Road
Raleigh, NC 27609
Raleigh, NC 27609
Phone Number
(919) 882-3585
NAIC Number
15884
Largest Affiliates