Westfield Specialty Ins Co
Major Rating Factors:
Fair reserve development (3.6 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Good profitability index (4.9). Excellent expense controls. Good liquidity (6.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Weak overall results on stability tests (0.6) including excessive premium growth and lack of operational experience. The largest net exposure for one risk is excessive at 23.8% of capital. Strengths include potentially strong support from affiliation with Ohio Farmers Ins Co.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
E - Lack of operating experience.
G - Fast asset or premium growth.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Comm multi (6.7%), fire (5.6%), other (87.8%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (99.0%), other (1.0%)
Corporate Info
Group Affiliation
Ohio Farmers Ins Co
Investment Rating
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Company Address
One Park Circle
Westfield Center, OH 44251
Westfield Center, OH 44251
Phone Number
(330) 887-0101
NAIC Number
16992
Website
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Largest Affiliates