A
EVERSPAN INDEM INSURANCE CO
Rating Date
December 2023
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: Strong long-term capitalization index (8.2 on a scale of 0 to 10) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Other Rating Factors: Good overall results on stability tests (5.5) despite excessive premium growth, weak results on operational trends and lack of operational experience. Fair profitability index (3.5) with operating losses during 2021 and 2022.
Stability Factors: E - Lack of operating experience. G - Fast asset or premium growth. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Personal/comm auto (90.8%), other (9.2%)
Licensed in: All states, the District of Columbia and Puerto Rico
Principal Investments: Investment grade bonds (46.6%), common stock (42.8%), other (10.6%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
Ambac Financial Group Inc
Investment Rating
Company Address
C/o Kutak Rock Llp 8601 N Scot
SCOTTSDALE, AZ 85253
Phone Number
(414) 369-5033
NAIC Number
16882
Largest Affiliates
E
MADISON, WI - P&C
U
PROVIDENCE, RI - P&C
Weiss Ratings