Major Rating Factors:
Good overall profitability index (5.4 on a scale of 0 to 10) despite operating losses during 2023. Excellent expense controls. Good overall results on stability tests (6.3) despite excessive premium growth. Stability strengths include good operational trends and excellent risk diversification. Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years.
Other Rating Factors:
Superior liquidity (10.0) with ample operational cash flow and liquid investments. Fair reserve development (4.0) as reserves have generally been sufficient to cover claims.
Stability Factors:
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Work comp (100.0%)
Licensed in:
GA, IN, KY, MD, MI, NC, SC, TN, VA, WV
Principal Investments:
Investment grade bonds (84.9%), common stock (7.3%), cash (2.0%), other (5.9%)
Corporate Info
Group Affiliation
Harford Mutual Ins Group Inc
Investment Rating
--
Company Address
200 North Main Street
Bel Air, MD 21014
Bel Air, MD 21014
Phone Number
(502) 894-8484
NAIC Number
16273
Largest Affiliates