MEEMIC INS CO
Major Rating Factors:
Fair profitability index (4.6 on a scale of 0 to 10) with operating losses during 2022. Return on equity has been low, averaging 2.8% over the past five years. Fair overall results on stability tests (4.2) including fair financial strength of affiliated Auto Club Ins Assn, weak results on operational trends and negative cash flow from operations for 2022.
Other Rating Factors:
Good liquidity (5.8) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (9.6) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Ample reserve history (8.6) that helps to protect the company against sharp claims increases.
Stability Factors:
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (72.4%), homeowners (27.0%), other (0.6%)
Licensed in:
GA, IL, MI, MN, OH, TN, WI
Principal Investments:
Investment grade bonds (90.4%), real estate (4.0%), other (5.6%)
Corporate Info
Group Affiliation
Auto Club Ins Assn
Investment Rating
--
Company Address
1685 N Opdyke Rd
AUBURN HILLS, MI 48326
AUBURN HILLS, MI 48326
Phone Number
(313) 336-9002
NAIC Number
16101
Website
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