Major Rating Factors:
Fair reserve development (5.0 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Good overall profitability index (5.3) despite operating losses during 2023. Excellent expense controls. Return on equity has been low, averaging 5.0% over the past five years. Good overall results on stability tests (6.1) despite excessive premium growth and negative cash flow from operations for 2024. Stability strengths include good operational trends and excellent risk diversification.
Other Rating Factors:
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. Superior liquidity (10.0) with ample operational cash flow and liquid investments.
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:
GA, IN, KY, MD, MI, NC, SC, TN, VA, WV
Principal Investments:
Investment grade bonds (90.9%), common stock (5.9%), cash (2.1%), other (1.1%)
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