Major Rating Factors:
Fair reserve development (3.8 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair profitability index (4.6) with operating losses during 2022 and the first nine months of 2024. Return on equity has been low, averaging 4.2% over the past five years. Fair overall results on stability tests (3.1) including excessive premium growth, weak results on operational trends and negative cash flow from operations for 2023.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Superior liquidity (10.0) with ample operational cash flow and liquid investments.
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
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 except HI, UT, WY
Principal Investments:
Investment grade bonds (92.1%), other (7.9%)
Corporate Info
Group Affiliation
Ambac Financial Group Inc
Investment Rating
Company Address
One World Trade Center
New York, NY 10007
New York, NY 10007
Phone Number
(855) 355-0327
NAIC Number
24295
Website
Largest Affiliates