NATIONWIDE AGRIBUSINESS INS CO
Major Rating Factors:
Fair overall results on stability tests (4.5 on a scale of 0 to 10) including weak results on operational trends. Strengths include potentially strong support from affiliation with Nationwide Corp. Fair reserve development (3.9) as reserves have generally been sufficient to cover claims.
Other Rating Factors:
Fair liquidity (4.8) as cash resources may not be adequate to cover a spike in claims. Weak profitability index (1.9) with operating losses during 2020, 2021 and 2022. Average return on equity over the last five years has been poor at -9.0%. Strong long-term capitalization index (7.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
L - Past results on our liquidity tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Farmowners (39.1%), personal/comm auto (27.8%), comm multi (12.1%), work comp (4.6%), fire (2.6%), product liab. (2.1%), homeowners (0.2%), other (11.5%)
Licensed in:
All states except AK, HI, PR
Principal Investments:
Investment grade bonds (97.1%), non investment grade bonds (1.8%), other (1.1%)
Corporate Info
Group Affiliation
Nationwide Corp
Investment Rating
--
Company Address
1100 LOCUST STREET
DES MOINES, IA 50391
DES MOINES, IA 50391
Phone Number
(614) 249-1545
NAIC Number
28223
Largest Affiliates
