Garfield Farm Mutual Ins Assn
Major Rating Factors:
Weak overall results on stability tests (1.5 on a scale of 0 to 10) including weak results on operational trends. Fair reserve development (4.6) as reserves have generally been sufficient to cover claims. Fair profitability index (3.8) with small operating losses during 2024.
Other Rating Factors:
Strong long-term capitalization index (7.5) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Excellent liquidity (7.7) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Fire (100.0%)
Licensed in:
TX
Principal Investments:
Common stock (62.3%), investment grade bonds (25.1%), cash (3.4%), real estate (1.2%), other (8.1%)
Corporate Info
Group Affiliation
Garfield Farm Mutual Ins Association
Investment Rating
--
Company Address
919 South Panna Maria Avenue
Karnes City, TX 78118
Karnes City, TX 78118
Phone Number
(830) 780-2444
NAIC Number
17737
Website
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