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. Return on equity has been low, averaging 1.0% over the past five years. Good overall results on stability tests (5.3) despite weak results on operational trends.
Other Rating Factors:
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. Excellent liquidity (7.7) with ample operational cash flow and liquid investments.
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