Major Rating Factors:
Weak profitability index (1.4 on a scale of 0 to 10) with operating losses during 2022, 2023 and the first nine months of 2024. Vulnerable liquidity (0.0) as a spike in claims may stretch capacity. Weak overall results on stability tests (2.8) including excessive premium growth, weak results on operational trends and negative cash flow from operations for 2023. The largest net exposure for one risk is excessive at 6.0% of capital.
Other Rating Factors:
Fair reserve development (4.1) as reserves have generally been sufficient to cover claims. Good long-term capitalization index (5.1) based on good current risk adjusted capital (severe loss scenarios), although results have slipped from the excellent range during the last year.
Stability Factors:
E - Lack of operating experience.
F - Negative cash flow.
G - Fast asset or premium growth.
L - Past results on our liquidity tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (100.0%)
Licensed in:
IN
Principal Investments:
Investment grade bonds (71.0%), cash (14.5%), other (14.4%)
Corporate Info
Group Affiliation
Orion180 Group Inc
Investment Rating
--
Company Address
930 South Harbor City Boulevard
Melbourne, FL 32901
Melbourne, FL 32901
Phone Number
(866) 590-3550
NAIC Number
17320
Website
Largest Affiliates