Major Rating Factors:
Weak overall results on stability tests (2.3 on a scale of 0 to 10) including excessive premium growth. The largest net exposure for one risk is excessive at 13.5% of capital. Fair reserve development (3.6) as reserves have generally been sufficient to cover claims. Good overall profitability index (5.0) despite operating losses during 2022. Excellent expense controls.
Other Rating Factors:
Good liquidity (6.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
D - Limited diversification of general business, policy, and/or investment risk.
G - Fast asset or premium growth.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Fire (6.3%), personal/comm auto (1.3%), product liab. (1.3%), homeowners (0.6%), med mal (0.3%), comm multi (0.3%), other (89.9%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (82.7%), cash (7.5%), non investment grade bonds (3.3%), other (6.5%)
Corporate Info
Group Affiliation
Palomar Holdings Inc
Investment Rating
Company Address
3601 West 76th Street
Edina, MN 55435
Edina, MN 55435
Phone Number
(952) 209-1786
NAIC Number
16754
Website
Largest Affiliates