Mid-Hudson Co-Operative Ins Co
Major Rating Factors:
Poor long-term capitalization index (2.8 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. Fair reserve development (3.7) as the level of reserves has at times been insufficient to cover claims. In 2020 and 2024 the two year reserve development was 15.0% and 25.6% deficient respectively. Fair profitability index (2.9) with operating losses during 2020, 2021 and 2022. Average return on equity over the last five years has been poor at -2.5%.
Other Rating Factors:
Fair overall results on stability tests (3.3) including weak risk adjusted capital in prior years and negative cash flow from operations for 2024. The largest net exposure for one risk is acceptable at 2.6% of capital. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
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 (52.9%), fire (14.6%), homeowners (12.7%), farmowners (3.7%), other (16.0%)
Licensed in:
DE, IL, IN, NY
Principal Investments:
Investment grade bonds (78.7%), common stock (13.5%), cash (3.5%), non investment grade bonds (1.2%), real estate (0.5%), other (2.6%)
Corporate Info
Group Affiliation
Mid-Hudson Co-Operative Ins Co
Investment Rating
--
Company Address
104 Bracken Road
Montgomery, NY 12549
Montgomery, NY 12549
Phone Number
(845) 457-5001
NAIC Number
35866
Website
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