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 over the last two years. Fair profitability index (4.0) with operating losses during 2021, 2022, 2023, 2024 and the first three months of 2025. Return on equity has been low, averaging 0.7% over the past five years. Fair overall results on stability tests (3.6) including weak results on operational trends and fair risk adjusted capital in prior years. The largest net exposure for one risk is conservative at 1.1% of capital.
Other Rating Factors:
Ample reserve history (7.0) that can protect against increases in claims costs. Excellent liquidity (7.4) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
G - Fast asset or premium growth.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Comm multi (18.6%), personal/comm auto (9.1%), fin guar/surety (5.9%), fire (3.3%), other (63.0%)
Licensed in:
All states except MA, ME, OR
Principal Investments:
Investment grade bonds (47.3%), common stock (45.1%), cash (5.3%), other (2.3%)
Corporate Info
Group Affiliation
Shield Holdings Llc
Investment Rating
--
Company Address
2850 Dixie Hwy
Waterford, MI 48328
Waterford, MI 48328
Phone Number
(616) 662-3900
NAIC Number
32867
Website
Largest Affiliates