Major Rating Factors:
Fair reserve development (3.6 on a scale of 0 to 10) as the level of reserves has at times been insufficient to cover claims. In 2024 and 2023 the two year reserve development was 20.1% and 27.3% deficient respectively. Fair profitability index (4.2) with operating losses during 2021, 2022 and 2023. Good liquidity (6.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Good overall results on stability tests (5.3) despite weak results on operational trends. Strong long-term capitalization index (7.3) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (2.7%), fin guar/surety (0.7%), med mal (0.7%), personal/comm auto (0.3%), product liab. (0.1%), comm multi (0.1%), fire (0.1%), other (95.2%)
Licensed in:
All states and Canada, PR
Principal Investments:
Investment grade bonds (51.7%), non investment grade bonds (5.9%), common stock (3.8%), cash (1.5%), other (37.2%)
Corporate Info
Group Affiliation
AXIS Capital Holdings Limited
Investment Rating
Company Address
1211 Avenue of the Americas
New York, NY 10036
New York, NY 10036
Phone Number
(678) 746-9400
NAIC Number
20370
Website
Largest Affiliates