Major Rating Factors:
History of adequate reserve strength (5.1 on a scale of 0 to 10) 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. Fair profitability index (3.8) with operating losses during 2020, 2022 and 2024. Average return on equity over the last five years has been poor at -3.7%.
Other Rating Factors:
Strong long-term capitalization index (7.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2020. Superior liquidity (9.3) with ample operational cash flow and liquid investments.
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
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
4200 Six Forks Road
Raleigh, NC 27609
Raleigh, NC 27609
Phone Number
(919) 833-1600
NAIC Number
36560
Website
Largest Affiliates