ARGONAUT INS CO
Major Rating Factors:
Poor long-term capitalization (2.7 on a scale of 0 to 10) based on weak current risk adjusted capital (moderate loss scenario), although results have slipped from the good range over the last two years. Fair reserve development (3.2) as reserves have generally been sufficient to cover claims. In 2022, the two year reserve development was 25% deficient.
Other Rating Factors:
Fair profitability index (3.9) with operating losses during 2022. Return on equity has been low, averaging 2.8% over the past five years. Fair overall results on stability tests (3.0) including weak results on operational trends and weak risk adjusted capital in prior years. Good liquidity (6.2) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Fin guar/surety (24.8%), comm multi (9.8%), work comp (7.9%), personal/comm auto (6.2%), product liab. (0.2%), other (51.1%)
Licensed in:
All states, the District of Columbia and Puerto Rico
Principal Investments:
Common stock (45.1%), investment grade bonds (37.0%), non investment grade bonds (3.7%), cash (0.9%), other (13.2%)
Corporate Info
Group Affiliation
Argo Group Intl Holdings Ltd
Investment Rating
Company Address
225 W Washington Street 24th F
CHICAGO, IL 60606
CHICAGO, IL 60606
Phone Number
(800) 470-7958x8411
NAIC Number
19801
Website
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