Major Rating Factors:
Fair profitability index (2.9 on a scale of 0 to 10) with operating losses during 2020, 2021 and 2023. Average return on equity over the last five years has been poor at -8.1%. Fair overall results on stability tests (3.9) including 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 1.7% of capital. History of adequate reserve strength (6.1) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Strong long-term capitalization index (7.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2023. Excellent liquidity (8.2) with ample operational cash flow and liquid investments.
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%)
Corporate Info
Group Affiliation
Gulf States Holdings Inc
Investment Rating
--
Company Address
1201 Camellia Boulevard
Lafayette, LA 70508
Lafayette, LA 70508
Phone Number
(337) 735-4074
NAIC Number
16052
Website
Largest Affiliates