Manatee Ins Exchange
Rating Date
April 2025
NAIC
Classification
Classification
Risk Adjusted
Capital Ratio #1
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Capital Ratio #2
Loss
Ratio
Ratio
Total
Assets
Assets
Capital
Net
Premiums
Premiums
Net
Income
Income
Major Rating Factors:
Weak overall results on stability tests (2.8 on a scale of 0 to 10) including excessive premium growth, weak results on operational trends and lack of operational experience. Fair reserve development (3.6) as reserves have generally been sufficient to cover claims. Fair liquidity (4.4) as cash resources may not be adequate to cover a spike in claims.
Other Rating Factors:
Strong long-term capitalization index (7.3) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Excellent profitability index (9.8). Excellent expense controls.
Stability Factors:
E - Lack of operating experience.
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 (60.1%), fire (4.0%), comm multi (2.8%), other (33.0%)
Licensed in:
FL
Principal Investments:
Preferred stock (7.2%), other (92.8%)
Corporate Info
Group Affiliation
Manatee Ins Exchange
Investment Rating
--
Company Address
12640 Telecom Drive
Temple Terrace, FL 33637
Temple Terrace, FL 33637
Phone Number
(813) 651-3400
NAIC Number
17580
Website
Largest Affiliates