Major Rating Factors:
Poor long-term capitalization index (1.7 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios), although results have slipped from the excellent range during the last year. Weak profitability index (1.4) with operating losses during each of the last five years and the first nine months of 2024. Average return on equity over the last five years has been poor at -66.2%. Vulnerable liquidity (1.5) as a spike in claims may stretch capacity.
Other Rating Factors:
Fair reserve development (4.9) as reserves have generally been sufficient to cover claims. Fair overall results on stability tests (3.6) including weak risk adjusted capital in prior years, weak results on operational trends, excessive premium growth and negative cash flow from operations for 2023.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
F - Negative cash flow.
G - Fast asset or premium growth.
L - Past results on our liquidity tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (75.6%), fire (2.8%), other (21.7%)
Licensed in:
FL
Principal Investments:
Investment grade bonds (43.3%), cash (41.2%), common stock (1.1%), other (14.4%)
Corporate Info
Group Affiliation
Kin Ins Inc
Investment Rating
--
Company Address
222 Merchandise Mart Plaza
Chicago, IL 60654
Chicago, IL 60654
Phone Number
(855) 717-0022
NAIC Number
16603
Website
Largest Affiliates