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. 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.
Other Rating Factors:
Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Weak overall results on stability tests (0.0) including excessive premium growth and lack of operational experience. The largest net exposure for one risk is excessive at 47.4% 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