Major Rating Factors:
History of adequate reserve strength (5.7 on a scale of 0 to 10) as reserves have been consistently at an acceptable level. Good overall results on stability tests (5.0) despite excessive premium growth and weak results on operational trends. Fair profitability index (4.7) with operating gains in each of the last five years. Return on equity has been low, averaging 3.1% over the past five years.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Superior liquidity (10.0) with ample operational cash flow and liquid investments.
Stability Factors:
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 (11.0%), work comp (10.2%), personal/comm auto (10.0%), med mal (4.5%), fin guar/surety (2.1%), product liab. (1.0%), fire (0.7%), other (60.6%)
Licensed in:
All states and GU, MP, PR, VI
Principal Investments:
Investment grade bonds (89.7%), common stock (9.9%), cash (0.2%), non investment grade bonds (0.2%)
Corporate Info
Group Affiliation
Loews Corporation
Investment Rating
Company Address
151 North Franklin Street
Chicago, IL 60606
Chicago, IL 60606
Phone Number
(312) 822-5000
NAIC Number
35289
Website
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