HiRoad Assurance Co
Major Rating Factors:
History of adequate reserve strength (6.3 on a scale of 0 to 10) as reserves have been consistently at an acceptable level. Good overall results on stability tests (5.3) despite weak risk adjusted capital in prior years. The largest net exposure for one risk is high at 3.1% of capital. Strengths include potentially strong support from affiliation with State Farm Mutual Automobile Ins Co. Fair profitability index (3.7) with operating losses during 2019, 2020 and 2021. Average return on equity over the last five years has been poor at -17.5%.
Other Rating Factors:
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. Superior liquidity (10.0) with ample operational cash flow and liquid investments.
Stability Factors:
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (99.7%), homeowners (0.3%)
Licensed in:
All states except AK, CA, CT, FL, GA, HI, MD, ME, MN, MO, NC, ND, NH, NJ, NY, SC, TX, VA, VT, WA, WI, WY
Principal Investments:
Investment grade bonds (65.6%), other (34.4%)
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