C
Gulf States Ins Co (LA)
Rating Date
April 2025
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
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Premiums
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Major Rating Factors: Fair profitability index (2.9 on a scale of 0 to 10) with operating losses during 2020, 2021 and 2023. Fair overall results on stability tests (3.9) including excessive premium growth, negative cash flow from operations for 2024 and fair risk adjusted capital in prior years. The largest net exposure for one risk is conservative at 1.8% of capital. Good long-term capitalization index (6.5) based on good current risk adjusted capital (severe loss scenarios) reflecting some improvement over results in 2019.
Other Rating Factors: History of adequate reserve strength (6.1) as reserves have been consistently at an acceptable level. Good liquidity (6.7) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors: F - Negative cash flow. G - Fast asset or premium growth. R - Concerns about the financial strength of its reinsurers. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Homeowners (70.6%), fire (1.5%), other (28.0%)
Licensed in: LA
Principal Investments: Investment grade bonds (62.5%), common stock (22.1%), cash (15.0%), other (0.3%)
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Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
Gulf States Holdings Inc
Investment Rating
--
Company Address
1201 Camellia Boulevard
Lafayette, LA 70508
Phone Number
(337) 735-4074
NAIC Number
16052
Largest Affiliates
C
Gulfport, MS - P&C