Major Rating Factors:
Fair profitability index (4.9 on a scale of 0 to 10) with operating losses during 2022 and 2023. Return on equity has been low, averaging 3.5% over the past five years. Fair overall results on stability tests (4.1) including. The largest net exposure for one risk is excessive at 7.1% of capital. Strong long-term capitalization index (8.4) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors:
Ample reserve history (8.1) that helps to protect the company against sharp claims increases. Excellent liquidity (7.4) with ample operational cash flow and liquid investments.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (53.4%), homeowners (20.3%), farmowners (17.8%), comm multi (2.2%), fire (1.5%), work comp (1.1%), product liab. (0.3%), other (3.3%)
Licensed in:
VA
Principal Investments:
Investment grade bonds (61.5%), common stock (34.9%), other (3.6%)
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