Major Rating Factors:
Fair overall results on stability tests (3.9 on a scale of 0 to 10) including excessive premium growth, weak results on operational trends, lack of operational experience and fair risk adjusted capital in prior years. Strengths include potentially strong support from affiliation with Loggerhead Reciprocal InterIns Exchange. Weak profitability index (2.8) with operating losses during 2022, 2023, 2024 and 2025. Good long-term capitalization index (6.5) based on excellent current risk adjusted capital (severe loss scenarios) reflecting significant improvement over results in 2023.
Other Rating Factors:
History of adequate reserve strength (5.2) as reserves have been consistently at an acceptable level. Excellent liquidity (8.2) 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 (86.8%), fire (13.1%)
Licensed in:
FL
Principal Investments:
Investment grade bonds (82.0%), common stock (9.2%), non investment grade bonds (4.6%), cash (4.1%)
Corporate Info
Group Affiliation
Loggerhead Reciprocal InterIns Exchange
Investment Rating
--
Company Address
14497 N Dale Mabry Hwy
Tampa, FL 33624
Tampa, FL 33624
Phone Number
(855) 216-9428
NAIC Number
17360
Website
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