Richmond Natl Ins Co
Major Rating Factors:
Weak profitability index (2.8 on a scale of 0 to 10) with operating losses during 2021, 2022 and 2023. Fair reserve development (5.0) as reserves have generally been sufficient to cover claims. Good overall results on stability tests (5.0) including excessive premium growth and lack of operational experience. The largest net exposure for one risk is excessive at 5.0% of capital.
Other Rating Factors:
Strong long-term capitalization index (7.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
E - Lack of operating experience.
G - Fast asset or premium growth.
Principal Lines of Business:
Fire (11.3%), med mal (7.7%), other (81.0%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (93.7%), cash (2.4%), other (3.8%)
Corporate Info
Group Affiliation
Richmond National Services Inc
Investment Rating
--
Company Address
11013 West Broad Street
Glen Allen, VA 23060
Glen Allen, VA 23060
Phone Number
(804) 256-0525
NAIC Number
17103
Website
Largest Affiliates