Major Rating Factors:
Weak profitability index (1.8 on a scale of 0 to 10) with operating losses during 2021, 2022 and 2023. Average return on equity over the last five years has been poor at -30.4%. Fair reserve development (3.2) as reserves have generally been sufficient to cover claims. Fair overall results on stability tests (3.3) including excessive premium growth, weak risk adjusted capital in prior years and weak results on operational trends.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2022. Superior liquidity (9.3) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (79.0%), homeowners (20.3%), other (0.7%)
Licensed in:
AZ, CA, IA, ID, IL, KS, KY, MO, NE, NM, NV, OH, OR, UT, WA, WI, WY
Principal Investments:
Investment grade bonds (89.5%), other (10.5%)
Corporate Info
Group Affiliation
California Casualty Indemnity Exchange
Investment Rating
--
Company Address
1875 South Grant Street
San Mateo, CA 94402
San Mateo, CA 94402
Phone Number
(650) 574-4000
NAIC Number
35955
Website
Largest Affiliates