Major Rating Factors:
Fair profitability index (4.7 on a scale of 0 to 10) with operating losses during 2020, 2021 and 2022. Good long-term capitalization index (5.9) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2021. Good overall results on stability tests (5.5) despite excessive premium growth and fair risk adjusted capital in prior years. The largest net exposure for one risk is acceptable at 2.3% of capital.
Other Rating Factors:
Ample reserve history (8.1) that helps to protect the company against sharp claims increases. Good liquidity (7.0) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Comm multi (13.8%), fire (7.6%), personal/comm auto (7.1%), work comp (6.5%), fin guar/surety (0.9%), other (64.1%)
Licensed in:
All states except RI
Principal Investments:
Common stock (48.9%), investment grade bonds (46.0%), cash (0.6%), other (4.6%)
Corporate Info
Group Affiliation
CAN
Investment Rating
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Company Address
55 West 46th Street
New York, NY 10036
New York, NY 10036
Phone Number
(646) 356-8101
NAIC Number
23752
Website
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Largest Affiliates