Major Rating Factors:
Fair profitability index (4.1 on a scale of 0 to 10) with operating losses during 2021 and 2022. Good long-term capitalization index (6.8) based on excellent current risk adjusted capital (severe loss scenarios) reflecting significant improvement over results in 2021. Good overall results on stability tests (5.4) despite excessive premium growth and fair risk adjusted capital in prior years. The largest net exposure for one risk is high at 4.4% of capital. Stability strengths include good operational trends and excellent risk diversification.
Other Rating Factors:
Ample reserve history (8.1) that helps to protect the company against sharp claims increases. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
Principal Lines of Business:
Comm multi (15.6%), work comp (11.0%), personal/comm auto (10.6%), fin guar/surety (0.6%), other (62.2%)
Licensed in:
All states except RI
Principal Investments:
Investment grade bonds (49.6%), common stock (47.3%), cash (1.9%), preferred stock (0.5%), non investment grade bonds (0.4%), other (0.3%)
Corporate Info
Group Affiliation
CAN
Investment Rating
--
Company Address
1251 Avenue of the Americas
New York, NY 10020
New York, NY 10020
Phone Number
(646) 356-8101
NAIC Number
23752
Website
Largest Affiliates