Major Rating Factors:
Weak profitability index (0.8 on a scale of 0 to 10) with operating losses during 2020, 2022, 2023, 2024 and the first three months of 2025. Average return on equity over the last five years has been poor at -52.9%. Weak overall results on stability tests (1.3) including weak results on operational trends, weak risk adjusted capital in prior years and negative cash flow from operations for 2024. Good long-term capitalization index (6.7) 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 (5.5) as reserves have been consistently at an acceptable level. Superior liquidity (9.6) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
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Licensed in:
AZ, CA, CO, ID, NV, OR, UT, WA
Principal Investments:
Cash (31.5%), investment grade bonds (29.2%), other (39.3%)
Corporate Info
Group Affiliation
Groupe Covéa - Société de Groupe dAssurance Mutuelle
Investment Rating
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Company Address
330 North Brand Boulevard
Glendale, CA 91203
Glendale, CA 91203
Phone Number
(925) 817-6300
NAIC Number
18953
Website
Largest Affiliates