Major Rating Factors:
Fair reserve development (4.4 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. In 2019 the two year reserve development was 22.8% deficient. Fair profitability index (4.9) with operating losses during 2021. Return on equity has been fair, averaging 6.3% over the past five years. Strong long-term capitalization index (7.1) 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 (8.0). Stability strengths include excellent operational trends, good risk adjusted capital for prior years and excellent risk diversification.
Stability Factors:
Principal Lines of Business:
Personal/comm auto (36.2%), homeowners (20.2%), fin guar/surety (5.6%), comm multi (2.9%), fire (2.6%), work comp (2.4%), product liab. (0.2%), other (30.0%)
Licensed in:
All states
Principal Investments:
Investment grade bonds (48.0%), common stock (39.7%), cash (5.4%), non investment grade bonds (4.4%), preferred stock (2.6%)
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
28886
Website
Largest Affiliates