Major Rating Factors:
Fair overall results on stability tests (3.3 on a scale of 0 to 10) including potential drain of affiliation with Fairfax Financial, weak results on operational trends and excessive premium growth. The largest net exposure for one risk is high at 4.4% of capital. Good long-term capitalization index (5.1) based on good current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent over the last several years.
Other Rating Factors:
Good liquidity (6.7) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Ample reserve history (8.6) that helps to protect the company against sharp claims increases. Excellent profitability (7.3).
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
G - Fast asset or premium growth.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Reinsurance (100.0%)
Licensed in:
All states, the District of Columbia and Puerto Rico
Principal Investments:
Investment grade bonds (45.2%), common stock (29.7%), non investment grade bonds (2.8%), real estate (2.5%), cash (2.3%), preferred stock (1.6%), other (16.0%)
Corporate Info
Group Affiliation
Fairfax Financial
Investment Rating
--
Company Address
300 FIRST STAMFORD PLACE
STAMFORD, CT 6902
STAMFORD, CT 6902
Phone Number
(203) 977-8082
NAIC Number
23680
Website
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