Major Rating Factors:
Good overall profitability index (6.5 on a scale of 0 to 10) despite operating losses during 2023. Good liquidity (6.1) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good long-term capitalization index (6.8) based on fair current risk adjusted capital (moderate loss scenarios), although results have slipped from the good range over the last two years.
Other Rating Factors:
Ample reserve history (9.3) that helps to protect the company against sharp claims increases. Excellent overall results on stability tests (7.9). Stability strengths include excellent operational trends and excellent risk diversification. The largest net exposure for one risk is conservative at 1.2% of capital.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
Principal Lines of Business:
Work comp (36.4%), homeowners (17.5%), comm multi (8.4%), personal/comm auto (5.2%), fin guar/surety (0.4%), other (32.1%)
Licensed in:
All states
Principal Investments:
Investment grade bonds (62.6%), common stock (31.7%), non investment grade bonds (0.7%), preferred stock (0.3%), other (4.6%)
Corporate Info
Group Affiliation
Ernest Rady Trust
Investment Rating
--
Company Address
15025 Innovation Drive
San Diego, CA 92128
San Diego, CA 92128
Phone Number
(858) 350-2400
NAIC Number
27847
Website
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