Aegis Security Ins Co
Major Rating Factors:
Poor long-term capitalization index (2.7 on a scale of 0 to 10) based on weak current risk adjusted capital (severe loss scenarios), although results have slipped from the fair range during the last year. Weak profitability index (2.0) with operating losses during 2021, 2022, 2023 and the first nine months of 2024. Average return on equity over the last five years has been poor at -8.6%. Fair reserve development (3.5) as the level of reserves has at times been insufficient to cover claims. In 2022 and 2023 the one year reserve development was 16.1% and 18.0% deficient respectively.
Other Rating Factors:
Fair overall results on stability tests (4.3) including weak risk adjusted capital in prior years and negative cash flow from operations for 2023. The largest net exposure for one risk is acceptable at 2.5% of capital. Good liquidity (6.0) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (65.2%), personal/comm auto (30.9%), fin guar/surety (1.0%), other (2.9%)
Licensed in:
All states
Principal Investments:
Investment grade bonds (76.2%), cash (9.4%), common stock (6.6%), preferred stock (0.8%), other (7.0%)
Corporate Info
Group Affiliation
LD Investments LLC
Investment Rating
--
Company Address
4431 North Front Street
Harrisburg, PA 17110
Harrisburg, PA 17110
Phone Number
(877) 640-1094
NAIC Number
33898
Website
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