Major Rating Factors:
Good overall results on stability tests (6.3 on a scale of 0 to 10) despite excessive premium growth. Stability strengths include good operational trends and excellent risk diversification. The largest net exposure for one risk is acceptable at 2.2% of capital. Fair reserve development (4.9) as reserves have generally been sufficient to cover claims. Fair profitability index (4.9) with operating losses during 2021, 2022, 2023 and 2024.
Other Rating Factors:
Strong long-term capitalization index (7.2) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital has steadily grown over the last five years. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
G - Fast asset or premium growth.
Principal Lines of Business:
Fin guar/surety (100.0%)
Licensed in:
All states
Principal Investments:
Common stock (81.7%), investment grade bonds (15.8%), cash (1.1%), other (1.4%)
Corporate Info
Group Affiliation
CAN
Investment Rating
--
Company Address
1251 Avenue of the Americas
New York, NY 10036
New York, NY 10036
Phone Number
(646) 356-8101
NAIC Number
30279
Website
Largest Affiliates