Major Rating Factors:
Good long-term capitalization index (6.1 on a scale of 0 to 10) based on fair current risk adjusted capital (moderate loss scenarios), although results have slipped from the good range during the last year. Fair profitability index (3.7) with operating losses during 2020, 2022, 2024 and the first three months of 2025. Average return on equity over the last five years has been poor at -3.8%. A history of deficient reserves (0.8) that places pressure on both capital and profits. In four of the last five years reserves (two year development) were between 18.5% and 214.0% deficient.
Other Rating Factors:
Good liquidity (6.8) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good overall results on stability tests (6.8) despite fair risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification. The largest net exposure for one risk is conservative at 1.0% of capital.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Fire (29.7%), homeowners (11.5%), personal/comm auto (7.9%), fin guar/surety (5.4%), comm multi (1.5%), farmowners (0.5%), med mal (0.4%), work comp (0.3%), product liab. (0.3%), other (42.5%)
Licensed in:
All states except AR, CO, CT, FL, GA, KS, MA, MD, ME, MO, MT, NH, NJ, NV, SC, SD, VA, VT, WV, WY
Principal Investments:
Investment grade bonds (86.2%), common stock (5.7%), other (8.1%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
SCOR SE
Investment Rating
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Company Address
28 Liberty Street
New York, NY 10005
New York, NY 10005
Phone Number
(212) 480-1900
NAIC Number
30058
Website
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Largest Affiliates