Major Rating Factors:
Fair reserve development (4.6 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. In 2019 the two year reserve development was 17.8% deficient. Fair profitability index (4.3) with operating losses during 2019 and 2021. Return on equity has been low, averaging 0.4% over the past five years. Strong long-term capitalization index (7.2) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2019.
Other Rating Factors:
Good liquidity (7.0) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Excellent overall results on stability tests (8.1). Stability strengths include excellent operational trends, good risk adjusted capital for prior years and excellent risk diversification.
Stability Factors:
F - Negative cash flow.
Principal Lines of Business:
Homeowners (30.1%), personal/comm auto (20.5%), fin guar/surety (7.1%), fire (2.4%), comm multi (2.4%), work comp (0.5%), product liab. (0.3%), other (36.8%)
Licensed in:
All states and GU, VI
Principal Investments:
Common stock (84.4%), investment grade bonds (10.0%), cash (3.2%), non investment grade bonds (1.9%), preferred stock (0.5%)
Corporate Info
Group Affiliation
Goose Creek Capital Inc
Investment Rating
--
Company Address
4200 Six Forks Road
Raleigh, NC 27609
Raleigh, NC 27609
Phone Number
(919) 833-1600
NAIC Number
26433
Website
Largest Affiliates