Major Rating Factors:
Fair profitability index (4.1 on a scale of 0 to 10) with operating losses during 2022 and 2023. Return on equity has been low, averaging 3.4% over the past five years. Fair overall results on stability tests (3.9) including. The largest net exposure for one risk is excessive at 7.6% of capital. Good liquidity (6.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Strong long-term capitalization index (8.5) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Ample reserve history (8.1) that helps to protect the company against sharp claims increases.
Stability Factors:
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Personal/comm auto (52.5%), homeowners (20.0%), farmowners (18.9%), comm multi (2.2%), fire (1.4%), work comp (1.1%), product liab. (0.3%), other (3.6%)
Licensed in:
VA
Principal Investments:
Investment grade bonds (62.5%), common stock (34.2%), preferred stock (0.2%), other (3.1%)
Corporate Info
Group Affiliation
Virginia Farm Bureau Federation
Investment Rating
--
Company Address
12580 West Creek Parkway
Richmond, VA 23238
Richmond, VA 23238
Phone Number
(804) 290-1000
NAIC Number
26034
Website
Largest Affiliates