Major Rating Factors:
Fair profitability index (4.9 on a scale of 0 to 10) with operating losses during 2022. Fair overall results on stability tests (3.4) including weak results on operational trends and negative cash flow from operations for 2024. The largest net exposure for one risk is conservative at 1.2% of capital. History of adequate reserve strength (5.8) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (8.4) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
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:
Comm multi (73.5%), homeowners (13.2%), fire (7.0%), farmowners (5.0%), other (1.3%)
Licensed in:
NY
Principal Investments:
Investment grade bonds (59.7%), common stock (27.5%), cash (9.2%), real estate (1.2%), other (2.4%)
Corporate Info
Group Affiliation
Allegany Co-op & Conemaugh Valley Group
Investment Rating
--
Company Address
195 Davison Road
Lockport, NY 14094
Lockport, NY 14094
Phone Number
(716) 434-5503
NAIC Number
16250
Website
Largest Affiliates