Major Rating Factors:
Fair overall results on stability tests (3.6 on a scale of 0 to 10) including weak risk adjusted capital in prior years and weak results on operational trends. The largest net exposure for one risk is acceptable at 2.4% of capital. Poor long-term capitalization index (1.2) based on weak current risk adjusted capital (severe and moderate loss scenarios), although results have slipped from the excellent range during the last year. Weak profitability index (2.7) with operating losses during 2023. Return on equity has been low, averaging 3.7% over the past five years.
Other Rating Factors:
Ample reserve history (9.4) that helps to protect the company against sharp claims increases. Superior liquidity (9.5) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (84.7%), product liab. (5.8%), personal/comm auto (5.3%), homeowners (2.9%), fire (0.1%), other (1.3%)
Licensed in:
All states and Canada, PR
Principal Investments:
Investment grade bonds (84.8%), real estate (2.5%), common stock (0.5%), other (12.2%)
Corporate Info
Group Affiliation
Riverstone International Holdings Limited
Investment Rating
--
Company Address
75 Sam Fonzo Drive
Beverly, MA 01915
Beverly, MA 01915
Phone Number
(978) 921-2080
NAIC Number
21261
Largest Affiliates
No affiliate information available.