Major Rating Factors:
Fair profitability index (3.8 on a scale of 0 to 10) with operating losses during 2021, 2022, 2023, 2024 and the first three months of 2025. Average return on equity over the last five years has been poor at -0.9%. Fair overall results on stability tests (3.4) including weak results on operational trends and negative cash flow from operations for 2024. The largest net exposure for one risk is excessive at 6.9% 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:
History of adequate reserve strength (6.9) as reserves have been consistently at an acceptable level. 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.
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:
Fire (18.1%), other (81.9%)
Licensed in:
All states except FL, WY
Principal Investments:
Investment grade bonds (81.5%), cash (18.4%), non investment grade bonds (0.2%)
Corporate Info
Group Affiliation
AXA SA
Investment Rating
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Company Address
225 Liberty Street
New York, NY 10281
New York, NY 10281
Phone Number
(347) 668-3470
NAIC Number
36552
Website
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Largest Affiliates