Major Rating Factors:
Fair profitability index (4.8 on a scale of 0 to 10) with small operating losses during 2022. Return on equity has been low, averaging 1.9% over the past five years. Fair overall results on stability tests (4.1) including excessive premium growth. Strengths include potentially strong support from affiliation with Loews Corporation. 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 liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
Principal Lines of Business:
Reinsurance (100.0%)
Licensed in:
All states
Principal Investments:
Investment grade bonds (76.1%), cash (23.8%)
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
36153
Website
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