Major Rating Factors:
Fair reserve development (4.1 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. Good overall profitability index (5.8) despite operating losses during 2021, 2022 and 2023. Good liquidity (6.4) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Good overall results on stability tests (5.5) despite. Strong long-term capitalization index (7.4) 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 (3.4%), fin guar/surety (1.7%), med mal (1.0%), fire (0.5%), personal/comm auto (0.1%), product liab. (0.1%), other (93.1%)
Licensed in:
All states and Canada, PR
Principal Investments:
Investment grade bonds (62.9%), non investment grade bonds (5.8%), common stock (4.8%), cash (1.6%), other (24.9%)
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