Major Rating Factors:
Fair profitability index (4.7 on a scale of 0 to 10) with operating losses during 2021, 2022 and 2023. Good long-term capitalization index (6.8) based on good current risk adjusted capital (severe loss scenarios). Over the last several years, capital levels have remained relatively consistent. History of adequate reserve strength (5.9) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Good liquidity (6.5) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (6.4) despite. Stability strengths include good operational trends, good risk adjusted capital for prior years and excellent risk diversification. The largest net exposure for one risk is conservative at 1.2% of capital.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (27.6%), work comp (25.2%), comm multi (20.9%), fin guar/surety (14.1%), other (12.2%)
Licensed in:
All states
Principal Investments:
Investment grade bonds (42.8%), common stock (35.5%), cash (1.1%), other (20.7%)
Corporate Info
Group Affiliation
Octave Specialty Group Inc
Investment Rating
Company Address
40 Wall Street
New York, NY 10005
New York, NY 10005
Phone Number
(855) 355-0327
NAIC Number
24961
Largest Affiliates