Major Rating Factors:
Poor long-term capitalization index (1.7 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios), although results have slipped from the excellent range over the last two years. Weak profitability index (2.2) with operating losses during 2022, 2023 and 2024. Average return on equity over the last five years has been poor at -29.3%. Fair overall results on stability tests (3.3) including weak risk adjusted capital in prior years and weak results on operational trends.
Other Rating Factors:
History of adequate reserve strength (5.5) as reserves have been consistently at an acceptable level. Good liquidity (5.8) 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:
Personal/comm auto (100.0%)
Licensed in:
All states except AK, AR, DC, IL, MA, ME, ND, NH, RI, SD, VA, VT, WV, WY
Principal Investments:
Investment grade bonds (30.8%), cash (5.1%), other (64.1%)
Corporate Info
Group Affiliation
Tesla Inc
Investment Rating
Company Address
45500 Fremont Blvd.
Fremont, CA 94538
Fremont, CA 94538
Phone Number
(303) 862-2049
NAIC Number
24821
Website
Largest Affiliates