Major Rating Factors:
Weak profitability index (1.8 on a scale of 0 to 10) with operating losses during 2021, 2022, 2023 and the first nine months of 2024. Fair reserve development (4.7) as reserves have generally been sufficient to cover claims. Fair overall results on stability tests (3.9) including weak results on operational trends, lack of operational experience and fair risk adjusted capital in prior years. The largest net exposure for one risk is acceptable at 2.1% of capital.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2021. Superior liquidity (9.9) with ample operational cash flow and liquid investments.
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:
Homeowners (87.9%), fire (10.1%), comm multi (2.0%)
Licensed in:
AL, LA, MS, NC, SC, TX
Principal Investments:
Investment grade bonds (79.6%), preferred stock (0.8%), non investment grade bonds (0.4%), cash (0.1%), other (19.1%)
Corporate Info
Group Affiliation
Iron Family Holdings LLC
Investment Rating
--
Company Address
Three Chasewood
Houston, TX 77070
Houston, TX 77070
Phone Number
(850) 364-1126
NAIC Number
17030
Website
Largest Affiliates