B
PEERLESS INS CO
BostonIL
Rating Date
December 2023
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: Fair reserve development (4.4 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair overall results on stability tests (3.7) including fair financial strength of affiliated Liberty Mutual Group and weak results on operational trends. The largest net exposure for one risk is acceptable at 2.9% of capital.
Other Rating Factors: Good overall profitability index (6.4). Fair expense controls. Return on equity has been fair, averaging 5.7% over the past five years. Good liquidity (5.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (7.9) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Stability Factors: R - Concerns about the financial strength of its reinsurers. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Personal/comm auto (48.6%), homeowners (46.0%), fin guar/surety (2.0%), fire (1.2%), other (2.3%)
Licensed in: All states except HI, PR
Principal Investments: Investment grade bonds (59.8%), non investment grade bonds (7.8%), common stock (3.0%), other (29.4%)
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
Corporate Info
Group Affiliation
Liberty Mutual Group
Investment Rating
--
Company Address
100 Liberty Way
Dover, NH 3820
Phone Number
(414) 369-5033
NAIC Number
24198
Largest Affiliates
B
Boston, MA - P&C
C
Dover, NH - P&C
B
Wausau, WI - P&C
B
B
Weiss Ratings