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 over the last two years. Weak profitability index (2.0) with operating losses during each of the last five years. Vulnerable liquidity (0.4) as a spike in claims may stretch capacity.
Other Rating Factors:
Fair overall results on stability tests (3.8) including weak risk adjusted capital in prior years, excessive premium growth, weak results on operational trends and negative cash flow from operations for 2024. History of adequate reserve strength (6.2) as reserves have been consistently at an acceptable level.
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 (75.8%), fire (2.7%), other (21.6%)
Licensed in:
FL
Principal Investments:
Cash (56.2%), investment grade bonds (32.4%), common stock (0.9%), other (10.4%)
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