Major Rating Factors:
Fair reserve development (4.8 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair profitability index (3.6) with operating losses during 2021, 2022, 2023 and the first six months of 2024. Fair overall results on stability tests (4.0) including weak results on operational trends and lack of operational experience.
Other Rating Factors:
Strong long-term capitalization index (7.6) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
E - Lack of operating experience.
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:
Personal/comm auto (57.5%), work comp (9.1%), fin guar/surety (0.3%), other (33.1%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (49.8%), common stock (40.2%), cash (1.3%), other (8.7%)
Corporate Info
Group Affiliation
Ambac Financial Group Inc
Investment Rating
Company Address
One World Trade Center
New York, NY 10007
New York, NY 10007
Phone Number
(855) 355-0327
NAIC Number
16882
Website
Largest Affiliates
