Major Rating Factors:
Fair reserve development (5.0 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair profitability index (3.8) with operating losses during 2019, 2020, 2022 and the first nine months of 2024. Average return on equity over the last five years has been poor at -3.6%. Strong long-term capitalization index (7.8) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2020.
Other Rating Factors:
Excellent liquidity (7.4) with ample operational cash flow and liquid investments. Excellent overall results on stability tests (7.5). Stability strengths include excellent operational trends and excellent risk diversification.
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (74.9%), fire (9.2%), comm multi (6.6%), other (9.3%)
Licensed in:
All states except CA, CT, MA, MD, MN, NH, NJ, NY, OH, VT
Principal Investments:
Investment grade bonds (63.4%), cash (16.8%), non investment grade bonds (1.1%), preferred stock (0.5%), other (18.1%)
Corporate Info
Group Affiliation
Safe Ins 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