B
HIGHMARK CASUALTY INS CO
Rating Date
December 2023
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: Fair overall results on stability tests (3.9 on a scale of 0 to 10) including potential drain of affiliation with Highmark Inc and weak results on operational trends. The largest net exposure for one risk is acceptable at 2.1% of capital. Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors: Ample reserve history (9.1) that helps to protect the company against sharp claims increases. Excellent profitability (8.9) with operating gains in each of the last five years. Vulnerable liquidity (2.9) as a spike in claims may stretch capacity.
Stability Factors: L - Past results on our liquidity tests. R - Concerns about the financial strength of its reinsurers. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Other (100%)
Licensed in: AL, FL, GA, ID, IL, IN, KS, KY, MD, MI, MS, MO, NV, NJ, NM, NC, OR, PA, SC, TX, UT, VA, WA, WV
Principal Investments: Investment grade bonds (69.7%), common stock (8.0%), non investment grade bonds (6.1%), cash (0.3%), other (16.0%)
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
Highmark Inc
Investment Rating
--
Company Address
120 Fifth Avenue
PITTSBURGH, PA 15222
Phone Number
(414) 369-5033
NAIC Number
35599
Largest Affiliates
B
Pittsburgh, PA - L&A
E
BURLINGTON, VT - P&C
B
New York, NY - L&A
Weiss Ratings