Major Rating Factors:
Fair profitability index (3.8 on a scale of 0 to 10) with operating losses during 2020, 2022 and 2024. Average return on equity over the last five years has been poor at -3.7%. History of adequate reserve strength (5.1) as reserves have been consistently at an acceptable level. Good overall results on stability tests (6.1) despite negative cash flow from operations for 2024 and fair risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification.
Other Rating Factors:
Superior liquidity (10.0) with ample operational cash flow and liquid investments. Poor long-term capitalization index (1.1) based on weak current risk adjusted capital (severe and moderate loss scenarios), although results have slipped from the excellent range during the last year.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
F - Negative cash flow.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (70.0%), fire (17.5%), comm multi (12.3%), other (0.3%)
Licensed in:
All states except CA, CT, MA, MD, MN, NH, NJ, NY, OH, VT
Principal Investments:
Investment grade bonds (51.6%), cash (36.2%), preferred stock (0.4%), non investment grade bonds (0.3%), other (11.5%)
Corporate Info
Group Affiliation
GeoVera Nova Holdings Inc
Investment Rating
--
Company Address
4605 Business Center Dr
Fairfield, CA 94534
Fairfield, CA 94534
Phone Number
(707) 863-3681
NAIC Number
36560
Website
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