Meemic Ins Co
Major Rating Factors:
Good liquidity (5.8 on a scale of 0 to 10) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Fair profitability index (3.6) with operating losses during 2022, 2023 and the first nine months of 2024. Average return on equity over the last five years has been poor at -0.1%. Strong long-term capitalization index (8.6) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors:
Ample reserve history (9.3) that helps to protect the company against sharp claims increases. Excellent overall results on stability tests (7.1). Stability strengths include good operational trends and excellent risk diversification.
Stability Factors:
F - Negative cash flow.
Principal Lines of Business:
Personal/comm auto (71.5%), homeowners (27.2%), comm multi (0.4%), work comp (0.1%), other (0.8%)
Licensed in:
GA, IL, MI, MN, OH, TN, WI
Principal Investments:
Investment grade bonds (89.7%), real estate (3.9%), other (6.4%)
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