Major Rating Factors:
Fair profitability index (3.0 on a scale of 0 to 10) with operating losses during 2021. Return on equity has been low, averaging 2.6% over the past five years. Fair overall results on stability tests (4.8) including weak results on operational trends and negative cash flow from operations for 2022.
Other Rating Factors:
Good liquidity (5.5) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (8.6) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Ample reserve history (7.4) that can protect against increases in claims costs.
Stability Factors:
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (98.1%), other (1.9%)
Licensed in:
AR, CO, FL, LA, MS, SC
Principal Investments:
Investment grade bonds (68.4%), common stock (24.1%), cash (2.2%), real estate (0.7%), other (4.6%)
Corporate Info
Group Affiliation
Southern Farm Bureau Casualty
Investment Rating
--
Company Address
1800 East County Line Road
Ridgeland, MS 39157
Ridgeland, MS 39157
Phone Number
(601) 957-4465
NAIC Number
18325
Website
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