Nationwide Agribusiness Ins Co
Major Rating Factors:
Good liquidity (6.5 on a scale of 0 to 10) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Fair reserve development (4.3) as reserves have generally been sufficient to cover claims. Strong long-term capitalization index (7.2) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2020.
Other Rating Factors:
Excellent overall results on stability tests (7.5). Stability strengths include good operational trends, good risk adjusted capital for prior years and excellent risk diversification. Weak profitability index (2.8) with operating losses during 2020, 2021, 2022 and 2023. Average return on equity over the last five years has been poor at -12.9%.
Stability Factors:
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Farmowners (30.4%), personal/comm auto (29.8%), comm multi (10.0%), homeowners (6.4%), work comp (3.2%), fire (1.7%), product liab. (1.4%), fin guar/surety (0.2%), other (16.9%)
Licensed in:
All states except AK, HI
Principal Investments:
Investment grade bonds (98.6%), non investment grade bonds (0.5%), other (0.9%)
Corporate Info
Group Affiliation
Nationwide Mutual Group
Investment Rating
--
Company Address
1100 Locust Street
Des Moines, IA 50391
Des Moines, IA 50391
Phone Number
(515) 508-4211
NAIC Number
28223
Largest Affiliates
