Major Rating Factors:
Weak profitability index (2.9 on a scale of 0 to 10) with operating losses during 2022, 2023 and 2024. Weak overall results on stability tests (2.8) including weak results on operational trends, negative cash flow from operations for 2024 and lack of operational experience. The largest net exposure for one risk is excessive at 7.0% of capital. Fair reserve development (4.8) as reserves have generally been sufficient to cover claims.
Other Rating Factors:
Good liquidity (6.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (7.7) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years.
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 (100.0%)
Licensed in:
LA, TX
Principal Investments:
Investment grade bonds (85.4%), cash (0.5%), preferred stock (0.4%), non investment grade bonds (0.4%), other (13.3%)
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
17363
Website
Largest Affiliates