Major Rating Factors:
Fair profitability index (3.1 on a scale of 0 to 10) with operating losses during 2020 and 2021. Average return on equity over the last five years has been poor at -2.6%. Fair liquidity (4.7) as cash resources may not be adequate to cover a spike in claims. Good overall results on stability tests (5.5) despite negative cash flow from operations for 2024. Stability strengths include good historical capital adequacy and excellent risk diversification.
Other Rating Factors:
Strong long-term capitalization index (7.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2024. Ample reserve history (7.0) that can protect against increases in claims costs.
Stability Factors:
F - Negative cash flow.
L - Past results on our liquidity tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (0.9%), work comp (0.6%), other (98.5%)
Licensed in:
All states except AK, DC, HI, ME, NY
Principal Investments:
Investment grade bonds (71.9%), non investment grade bonds (9.5%), common stock (3.5%), real estate (0.9%), cash (0.6%), other (13.4%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
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Corporate Info
Group Affiliation
QBE Ins Group Limited
Investment Rating
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Company Address
7333 Sunwood Drive
Ramsey, MN 55303
Ramsey, MN 55303
Phone Number
(763) 427-3770
NAIC Number
25240
Website
Largest Affiliates