Major Rating Factors:
Fair reserve development (3.6 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair overall results on stability tests (4.7) including negative cash flow from operations for 2024 and lack of operational experience. Good overall profitability index (5.1) with small operating losses during 2020. Excellent expense controls.
Other Rating Factors:
Strong long-term capitalization index (7.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital has steadily grown over the last five years. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
E - Lack of operating experience.
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:
Personal/comm auto (78.2%), fire (19.7%), other (2.1%)
Licensed in:
(No states)
Principal Investments:
Common stock (85.4%), investment grade bonds (0.7%), cash (0.5%), other (13.5%)
Corporate Info
Group Affiliation
PBRA (Cayman) Co
Investment Rating
--
Company Address
B-7 Tabonuco Street
Guaynabo, PR 00968
Guaynabo, PR 00968
Phone Number
(787) 339-2100
NAIC Number
16777
Largest Affiliates