Major Rating Factors:
History of adequate reserve strength (5.2 on a scale of 0 to 10) as reserves have been consistently at an acceptable level. Good liquidity (6.8) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Fair profitability index (4.6) with operating losses during 2021, 2022 and 2023. Return on equity has been fair, averaging 16.4% over the past five years.
Other Rating Factors:
Fair overall results on stability tests (3.8) including weak results on operational trends. Strong long-term capitalization index (7.2) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2024.
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 (36.4%), work comp (29.3%), fin guar/surety (20.0%), comm multi (1.4%), other (13.0%)
Licensed in:
All states
Principal Investments:
Investment grade bonds (49.6%), common stock (35.8%), cash (0.3%), other (14.3%)
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