National American Ins Co of CA
Rating Date
June 2025
NAIC
Classification
Classification
Risk Adjusted
Capital Ratio #1
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Capital Ratio #2
Loss
Ratio
Ratio
Total
Assets
Assets
Capital
Net
Premiums
Premiums
Net
Income
Income
Major Rating Factors:
Poor long-term capitalization index (1.6 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios), although results have slipped from the good range during the last year. Weak profitability index (2.5) with operating losses during 2020, 2021, 2023, 2024 and the first three months of 2025. Average return on equity over the last five years has been poor at -26.9%. Weak overall results on stability tests (0.6) including weak risk adjusted capital in prior years and negative cash flow from operations for 2024. The largest net exposure for one risk is excessive at 23.7% of capital.
Other Rating Factors:
Fair reserve development (4.5) as reserves have generally been sufficient to cover claims. In 2024 the two year reserve development was 22.4% deficient. Superior liquidity (10.0) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Fin guar/surety (100.0%)
Licensed in:
AZ, CA, HI, OR, TX
Principal Investments:
Investment grade bonds (68.1%), cash (20.4%), other (11.6%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
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Corporate Info
Group Affiliation
Apollo Global Management Inc
Investment Rating
Company Address
Five Batterson Park Road
Farmington, CT 06032
Farmington, CT 06032
Phone Number
(860) 404-9181
NAIC Number
23671
Website
Largest Affiliates