Major Rating Factors:
Fair reserve development (4.8 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair profitability index (3.9) with operating losses during 2021, 2022 and 2023. Return on equity has been fair, averaging 14.3% over the past five years. Fair overall results on stability tests (3.8) including excessive premium growth and weak results on operational trends.
Other Rating Factors:
Good long-term capitalization index (6.0) based on good current risk adjusted capital (severe loss scenarios), although results have slipped from the excellent range during the last year. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
G - Fast asset or premium growth.
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 (49.2%), fin guar/surety (23.4%), work comp (22.6%), homeowners (1.1%), other (3.7%)
Licensed in:
All states
Principal Investments:
Common stock (50.2%), investment grade bonds (32.1%), non investment grade bonds (0.9%), other (16.8%)
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
24961
Website
Largest Affiliates