Spinnaker 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 overall results on stability tests (5.6) despite excessive premium growth, weak risk adjusted capital in prior years and lack of operational experience. Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios).
Other Rating Factors:
Excellent profitability index (8.7). Excellent expense controls. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
E - Lack of operating experience.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (48.6%), comm multi (35.2%), fire (2.7%), other (13.5%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (87.5%), cash (0.2%), other (12.3%)
Corporate Info
Group Affiliation
Hippo Holdings Inc
Investment Rating
Company Address
One Pluckemin Way
Bedminster, NJ 07921
Bedminster, NJ 07921
Phone Number
(888) 221-7742
NAIC Number
17045
Website
Largest Affiliates