Castle Key Ins Co
Major Rating Factors:
Weak profitability index (2.0 on a scale of 0 to 10) with operating losses during 2021, 2022 and 2023. Fair reserve development (4.9) as reserves have generally been sufficient to cover claims. In 2023 the two year reserve development was 17.6% deficient. Good liquidity (5.4) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Strong long-term capitalization index (7.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2023. Excellent overall results on stability tests (7.0) despite weak 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 1.9% of capital.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
Principal Lines of Business:
Homeowners (99.2%), other (0.8%)
Licensed in:
FL, IL
Principal Investments:
Investment grade bonds (90.1%), common stock (5.8%), other (4.2%)
Corporate Info
Group Affiliation
The Allstate Corporation
Investment Rating
Company Address
3100 Sanders Road
Northbrook, IL 60062
Northbrook, IL 60062
Phone Number
(847) 402-5000
NAIC Number
30511
Website
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