Major Rating Factors:
Fair overall results on stability tests (4.0 on a scale of 0 to 10) including excessive premium growth, weak results on operational trends, negative cash flow from operations for 2024, lack of operational experience and fair risk adjusted capital in prior years. The largest net exposure for one risk is conservative at 1.2% of capital. Weak profitability index (2.0) with operating losses during 2021, 2022, 2023, 2024 and the first three months of 2025. History of adequate reserve strength (5.9) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Strong long-term capitalization index (7.2) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2021. Good liquidity (7.0) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
E - Lack of operating experience.
F - Negative cash flow.
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:
Homeowners (82.9%), fire (14.4%), comm multi (2.7%)
Licensed in:
AL, LA, MS, NC, SC, TX
Principal Investments:
Investment grade bonds (80.9%), non investment grade bonds (0.9%), cash (0.6%), preferred stock (0.5%), other (17.1%)
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