Major Rating Factors:
Weak profitability index (1.6 on a scale of 0 to 10) with operating losses during 2022. Average return on equity over the last five years has been poor at -2.0%. Fair overall results on stability tests (4.0) including. The largest net exposure for one risk is excessive at 7.5% of capital. Strengths include potentially strong support from affiliation with AXA SA. History of adequate reserve strength (5.5) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Good liquidity (6.8) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (7.2) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2022.
Stability Factors:
Principal Lines of Business:
Comm multi (15.4%), homeowners (7.2%), fire (6.7%), work comp (0.5%), farmowners (0.1%), other (70.1%)
Licensed in:
All states and Canada, PR
Principal Investments:
Investment grade bonds (92.3%), cash (0.8%), non investment grade bonds (0.1%), other (6.7%)
Corporate Info
Group Affiliation
AXA SA
Investment Rating
--
Company Address
1 Star Point
Stamford, CT 06902
Stamford, CT 06902
Phone Number
(203) 964-5200
NAIC Number
20583
Website
Largest Affiliates