Southern Ins Co VA
Major Rating Factors:
Good liquidity (6.6 on a scale of 0 to 10) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (4.9) including. The largest net exposure for one risk is excessive at 5.2% of capital. Fair profitability index (3.1) with operating losses during 2022, 2023 and 2024. Average return on equity over the last five years has been poor at -3.5%.
Other Rating Factors:
Strong long-term capitalization index (7.9) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Ample reserve history (9.4) that helps to protect the company against sharp claims increases.
Stability Factors:
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (54.1%), homeowners (21.0%), work comp (11.2%), comm multi (8.3%), fire (0.8%), other (4.6%)
Licensed in:
AL, DC, DE, GA, MD, NC, OH, PA, SC, TN, VA, WV
Principal Investments:
Investment grade bonds (93.4%), cash (4.1%), real estate (0.6%), other (1.9%)
Corporate Info
Group Affiliation
Donegal Mutual Ins Co
Investment Rating
--
Company Address
801 Virginia Village Drive
Glen Allen, VA 23060
Glen Allen, VA 23060
Phone Number
(804) 266-7012
NAIC Number
26867
Website
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