Major Rating Factors:
Fair profitability index (4.7 on a scale of 0 to 10) with operating losses during 2020, 2021 and 2022. Fair overall results on stability tests (3.6) including weak results on operational trends, negative cash flow from operations for 2024 and lack of operational experience. Strong long-term capitalization index (7.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2022.
Other Rating Factors:
Ample reserve history (7.2) that can protect against increases in claims costs. Superior liquidity (10.0) with ample operational cash flow and liquid investments.
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 (45.7%), homeowners (27.5%), comm multi (5.6%), fire (1.8%), other (19.4%)
Licensed in:
(No states)
Principal Investments:
Common stock (59.8%), cash (28.8%), investment grade bonds (11.2%), other (0.2%)
Corporate Info
Group Affiliation
R&Q Ins Holdings Ltd
Investment Rating
--
Company Address
4798 New Broad Street
Orlando, FL 32814
Orlando, FL 32814
Phone Number
(407) 629-2131
NAIC Number
16835
Website
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