Associated Industries Ins Co
Major Rating Factors:
Fair reserve development (3.6 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair overall results on stability tests (4.2) including excessive premium growth, weak results on operational trends and negative cash flow from operations for 2024. Strengths include potentially strong support from affiliation with Evergreen Parent Gp LLC. Good overall profitability index (5.3) with small operating losses during 2020. Excellent expense controls.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Excellent liquidity (7.9) with ample operational cash flow and liquid investments.
Stability Factors:
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Comm multi (12.5%), work comp (8.4%), product liab. (6.8%), fire (2.9%), personal/comm auto (0.4%), other (69.1%)
Licensed in:
FL
Principal Investments:
Investment grade bonds (97.4%), non investment grade bonds (0.6%), common stock (0.5%), other (1.5%)
Corporate Info
Group Affiliation
Evergreen Parent Gp LLC
Investment Rating
--
Company Address
903 Northwest 65th Street
Boca Raton, FL 33487
Boca Raton, FL 33487
Phone Number
(561) 962-9300
NAIC Number
23140
Website
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