Financial Pacific Ins Co
Major Rating Factors:
History of adequate reserve strength (5.8 on a scale of 0 to 10) as reserves have been consistently at an acceptable level. Fair profitability index (4.8) with operating losses during 2020 and 2023. Return on equity has been low, averaging 2.3% over the past five years. Strong long-term capitalization index (7.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2024.
Other Rating Factors:
Excellent liquidity (8.6) with ample operational cash flow and liquid investments. Excellent overall results on stability tests (7.4). Stability strengths include excellent operational trends and excellent risk diversification.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (26.3%), product liab. (12.6%), comm multi (4.2%), work comp (3.1%), fin guar/surety (2.9%), fire (2.7%), homeowners (0.7%), other (47.5%)
Licensed in:
AK, AR, AZ, CA, CO, FL, IA, ID, IL, KS, MN, MO, MT, ND, NE, NM, NV, OK, OR, SD, TX, UT, WA, WI
Principal Investments:
Investment grade bonds (96.0%), cash (3.2%), other (0.8%)
Corporate Info
Group Affiliation
United Fire Group Inc
Investment Rating
Company Address
118 Second Avenue, SE
Cedar Rapids, IA 52401
Cedar Rapids, IA 52401
Phone Number
(319) 399-5700
NAIC Number
31453
Website
Largest Affiliates