Major Rating Factors:
Fair long-term capitalization index (3.7 on a scale of 0 to 10) based on fair current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2024. Fair reserve development (4.1) as reserves have generally been sufficient to cover claims. In 2024 the two year reserve development was 20.1% deficient. Fair profitability index (4.7) with operating losses during 2021, 2022 and 2023.
Other Rating Factors:
Fair overall results on stability tests (4.0) including excessive premium growth, weak risk adjusted capital in prior years and weak results on operational trends. Good liquidity (6.4) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Fire (29.8%), personal/comm auto (7.2%), homeowners (3.4%), product liab. (0.6%), comm multi (0.2%), other (58.8%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (50.6%), common stock (35.8%), cash (10.1%), other (3.5%)
Corporate Info
Group Affiliation
Genstar IX GP LLC
Investment Rating
--
Company Address
1330 Avenue of Americas
New York, NY 10019
New York, NY 10019
Phone Number
(800) 684-5428
NAIC Number
16871
Website
Largest Affiliates