Meemic Ins Co
Major Rating Factors:
Fair liquidity (4.6 on a scale of 0 to 10) as cash resources may not be adequate to cover a spike in claims. Good overall results on stability tests (6.1) despite. Other stability subfactors include potentially strong support from affiliation with Auto Club Ins Association Group, good operational trends and excellent risk diversification. Strong long-term capitalization index (7.8) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors:
Ample reserve history (9.4) that helps to protect the company against sharp claims increases. Weak profitability index (2.5) with operating losses during 2022, 2023 and 2024.
Stability Factors:
L - Past results on our liquidity tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (71.6%), homeowners (27.1%), comm multi (0.5%), work comp (0.1%), farmowners (0.1%), other (0.6%)
Licensed in:
GA, IL, MI, MN, OH, TN, WI
Principal Investments:
Investment grade bonds (89.5%), real estate (3.9%), other (6.7%)
Corporate Info
Group Affiliation
Auto Club Ins Association Group
Investment Rating
--
Company Address
1685 North Opdyke Road
Auburn Hills, MI 48326
Auburn Hills, MI 48326
Phone Number
(248) 373-5700
NAIC Number
16101
Website
Largest Affiliates