Major Rating Factors:
Fair profitability index (3.8 on a scale of 0 to 10) with operating losses during 2020, 2021 and 2024. Average return on equity over the last five years has been poor at -2.6%. Fair overall results on stability tests (3.7) including weak risk adjusted capital in prior years, weak results on operational trends and negative cash flow from operations for 2024. Good long-term capitalization index (6.5) based on excellent current risk adjusted capital (severe loss scenarios) reflecting significant improvement over results in 2020.
Other Rating Factors:
History of adequate reserve strength (5.6) as reserves have been consistently at an acceptable level. Good liquidity (6.1) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (100.0%)
Licensed in:
All states except AL, AR, CA, CO, HI, ME, MN, NH, NY, OR, VA, VT
Principal Investments:
Common stock (50.2%), investment grade bonds (42.4%), cash (6.7%), other (0.6%)
Corporate Info
Group Affiliation
AP Omaha National LLC
Investment Rating
--
Company Address
9110 West Dodge Road
Omaha, NE 68114
Omaha, NE 68114
Phone Number
(844) 761-8400
NAIC Number
16219
Website
Largest Affiliates