HiRoad Assurance Co
Major Rating Factors:
Good overall results on stability tests (5.9 on a scale of 0 to 10) despite weak risk adjusted capital in prior years. The largest net exposure for one risk is high at 3.1% of capital. Other stability subfactors include potentially strong support from affiliation with State Farm Mutual Automobile Ins Co, good operational trends and excellent risk diversification. Fair profitability index (3.4) with operating losses during 2020 and 2021. Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2020.
Other Rating Factors:
Ample reserve history (7.0) that can protect against increases in claims costs. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
Principal Lines of Business:
Personal/comm auto (99.7%), homeowners (0.3%)
Licensed in:
All states except AK, CA, FL, HI, MD, ME, MN, NC, ND, NH, NJ, NY, SC, TX, VA, WA, WI, WY
Principal Investments:
Investment grade bonds (57.9%), other (42.1%)
Corporate Info
Group Affiliation
State Farm Mutual Automobile Ins Co
Investment Rating
--
Company Address
One Cedar Street
Providence, RI 02903
Providence, RI 02903
Phone Number
(309) 766-2311
NAIC Number
16138
Website
Largest Affiliates