Major Rating Factors:
Poor long-term capitalization index (1.8 on a scale of 0 to 10) based on weak current risk adjusted capital (severe loss scenarios). Fair reserve development (3.9) as the level of reserves has at times been insufficient to cover claims. In 2022 and 2020 the one year reserve development was 17.3% and 22.9% deficient respectively. Good overall profitability index (6.0) despite operating losses during 2020 and 2022. Return on equity has been low, averaging 4.8% over the past five years.
Other Rating Factors:
Good overall results on stability tests (5.6) despite weak risk adjusted capital in prior years. The largest net exposure for one risk is high at 4.2% of capital. Excellent liquidity (8.6) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
Principal Lines of Business:
Personal/comm auto (7.5%), fire (6.3%), product liab. (1.5%), other (84.7%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (91.0%), cash (4.2%), non investment grade bonds (2.8%), common stock (2.0%)
Corporate Info
Group Affiliation
HDI Haftpflichtverband der Deutschen Industrie VaG
Investment Rating
--
Company Address
161 North Clark Street
Chicago, IL 60601
Chicago, IL 60601
Phone Number
(312) 580-1900
NAIC Number
16131
Website
Largest Affiliates