B
NORCAL Ins Co
Rating Date
June 2025
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: History of adequate reserve strength (5.1 on a scale of 0 to 10) as reserves have been consistently at an acceptable level. Good overall profitability index (5.1) despite operating losses during 2020. Return on equity has been low, averaging 3.5% over the past five years. Strong long-term capitalization index (7.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2022.
Other Rating Factors: Superior liquidity (9.1) with ample operational cash flow and liquid investments. Excellent overall results on stability tests (7.5). Stability strengths include good operational trends, good risk adjusted capital for prior years and excellent risk diversification.
Stability Factors: F - Negative cash flow. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Med mal (100.0%)
Licensed in: All states except NY
Principal Investments: Investment grade bonds (81.8%), common stock (6.5%), non investment grade bonds (5.9%), other (5.8%)
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
ProAssurance Corporation
Investment Rating
PRA
Company Address
201 California Street
San Francisco, CA 94111
Phone Number
(844) 466-7225
NAIC Number
33200
Largest Affiliates
B
Birmingham, AL - P&C
B
Franklin, TN - P&C
C
Lancaster, PA - P&C
C
Birmingham, AL - P&C
C
Chantilly, VA - P&C