NORTH AMERICAN CAPACITY INS CO
Major Rating Factors:
Fair overall results on stability tests (3.6 on a scale of 0 to 10) including potential drain of affiliation with Swiss Reinsurance, weak results on operational trends and negative cash flow from operations for 2022.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Excellent profitability (7.6) despite modest operating losses during 2018. Excellent expense controls. Superior liquidity (9.6) with ample operational cash flow and liquid investments.
Stability Factors:
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Fire (1.2%), other (98.8%)
Licensed in:
All states, the District of Columbia and Puerto Rico
Principal Investments:
Investment grade bonds (99.7%), cash (0.3%)