Major Rating Factors:
Fair reserve development (4.0 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. In 2024 the one year reserve development was 17.5% deficient. Fair profitability index (4.4) with operating losses during 2020 and 2024. Fair overall results on stability tests (4.6) including. The largest net exposure for one risk is excessive at 6.1% of capital.
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:
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Fire (6.4%), personal/comm auto (5.2%), homeowners (4.5%), work comp (2.7%), comm multi (0.5%), fin guar/surety (0.4%), farmowners (0.4%), med mal (0.1%), other (79.6%)
Licensed in:
All states and GU, PR
Principal Investments:
Investment grade bonds (88.6%), non investment grade bonds (2.0%), cash (0.1%), other (9.3%)
Corporate Info
Group Affiliation
Swiss Re AG
Investment Rating
--
Company Address
175 King Street
Armonk, NY 10504
Armonk, NY 10504
Phone Number
(914) 828-8000
NAIC Number
25364
Website
Largest Affiliates