Major Rating Factors:
Good overall profitability index (6.9 on a scale of 0 to 10) despite operating losses during 2019 and 2020. Return on equity has been low, averaging 4.4% over the past five years. Good liquidity (6.8) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (7.3) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors:
History of adequate reserve strength (7.0) as reserves have been consistently at an acceptable level. Excellent overall results on stability tests (7.2). Stability strengths include excellent operational trends and excellent risk diversification. The largest net exposure for one risk is conservative at 1.9% of capital.
Stability Factors:
L - Past results on our liquidity tests.
Principal Lines of Business:
Fire (8.0%), work comp (4.2%), personal/comm auto (3.5%), fin guar/surety (1.0%), product liab. (0.9%), comm multi (0.3%), other (82.1%)
Licensed in:
All states and GU, PR
Principal Investments:
Investment grade bonds (71.8%), common stock (10.7%), non investment grade bonds (1.1%), cash (0.2%), other (16.1%)
Corporate Info
Group Affiliation
AXA SA
Investment Rating
--
Company Address
677 Washington Blvd
Stamford, CT 06901
Stamford, CT 06901
Phone Number
(203) 964-5200
NAIC Number
22322
Website
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