National Legacy Ins Co
Major Rating Factors:
Fair reserve development (3.5 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. In 2023 the two year reserve development was 64.5% deficient. Fair profitability index (3.9) with operating losses during 2021, 2023 and the first six months of 2024. Return on equity has been low, averaging 0.1% over the past five years. Fair overall results on stability tests (3.6) including excessive premium growth, weak results on operational trends and negative cash flow from operations for 2023.
Other Rating Factors:
Strong long-term capitalization index (7.2) 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:
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Reinsurance (100.0%)
Licensed in:
OK
Principal Investments:
Common stock (92.5%), investment grade bonds (7.2%), cash (0.2%)
Corporate Info
Group Affiliation
R&Q Ins Holdings Ltd
Investment Rating
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Company Address
One Logan Square
Philadelphia, PA 19103
Philadelphia, PA 19103
Phone Number
(267) 675-3348
NAIC Number
16660
Website
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Largest Affiliates
