Argonaut Ins Co
Major Rating Factors:
Fair long-term capitalization index (3.1 on a scale of 0 to 10) based on fair current risk adjusted capital (severe and moderate loss scenarios), although results have slipped from the good range over the last two years. A history of deficient reserves (2.9) that places pressure on both capital and profits. In 2022 and 2023 the two year reserve development was 25.1% and 31.8% deficient respectively. Fair profitability index (3.8) with operating losses during 2022 and the first nine months of 2024. Return on equity has been low, averaging 2.0% over the past five years.
Other Rating Factors:
Good liquidity (7.0) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Excellent overall results on stability tests (7.8). Strengths include potentially strong support from affiliation with Brookfield Wealth Solutions Ltd, good operational trends and excellent risk diversification.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Fin guar/surety (21.3%), work comp (12.2%), comm multi (10.3%), personal/comm auto (10.3%), product liab. (0.2%), other (45.8%)
Licensed in:
All states and GU, PR, VI
Principal Investments:
Common stock (41.8%), investment grade bonds (31.0%), non investment grade bonds (3.2%), cash (0.2%), other (23.8%)
Corporate Info
Group Affiliation
Brookfield Wealth Solutions Ltd
Investment Rating
Company Address
711 Broadway Street
San Antonio, TX 78215
San Antonio, TX 78215
Phone Number
(800) 470-7958
NAIC Number
19801
Website
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