Major Rating Factors:
Good long-term capitalization index (6.6 on a scale of 0 to 10) based on fair current risk adjusted capital (moderate loss scenarios). A history of deficient reserves (2.4) that places pressure on both capital and profits. Deficiencies in the two year reserve development occurred in three of the previous five years and ranged between 28.1% and 56.0%. Good overall profitability index (5.2) despite operating losses during 2021. Return on equity has been low, averaging 4.9% over the past five years.
Other Rating Factors:
Good overall results on stability tests (6.5) despite fair risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification. Excellent liquidity (8.2) with ample operational cash flow and liquid investments.
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:
Work comp (35.2%), fire (10.9%), personal/comm auto (8.2%), product liab. (6.6%), med mal (0.6%), comm multi (0.6%), other (37.9%)
Licensed in:
CA
Principal Investments:
Investment grade bonds (75.7%), cash (24.3%)
Corporate Info
Group Affiliation
James River Group Holdings Ltd
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