B
SAFECO INS CO OF AMERICA
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 overall results on stability tests (3.9 on a scale of 0 to 10) including weak results on operational trends. The largest net exposure for one risk is acceptable at 2.2% of capital. History of adequate reserve strength (5.6) as reserves have been consistently at an acceptable level.
Other Rating Factors: Good overall profitability index (6.5). Fair expense controls. Return on equity has been low, averaging 4.7% over the past five years. Good liquidity (6.1) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (8.5) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years.
Stability Factors: A - Financial problems or weaknesses of a parent or affiliate company. 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 (39.4%), homeowners (36.1%), fire (5.4%), comm multi (0.6%), fin guar/surety (0.5%), other (18.1%)
Licensed in: All states except PR
Principal Investments: Investment grade bonds (57.5%), non investment grade bonds (6.8%), common stock (4.1%), other (31.6%)
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
24740
Largest Affiliates
B
Boston, MA - P&C
B
Dover, NH - P&C
C
Dover, NH - P&C
B
Wausau, WI - P&C
B
Weiss Ratings