Major Rating Factors:
Weak overall results on stability tests (2.9 on a scale of 0 to 10) including weak financial strength of affiliated XL Group Ltd, weak results on operational trends and negative cash flow from operations for 2022.
Other Rating Factors:
Fair profitability index (4.4) with operating losses during 2018, 2019 and 2020. Average return on equity over the last five years has been poor at -1.3%. 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. Superior liquidity (9.0) with ample operational cash flow and liquid investments.
Stability Factors:
F - Negative cash flow.
G - Fast asset or premium growth.
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 (8.1%), product liab. (1.5%), personal/comm auto (0.5%), homeowners (0.4%), fin guar/surety (0.3%), comm multi (0.2%), other (89.0%)
Licensed in:
All states, the District of Columbia and Puerto Rico
Principal Investments:
Investment grade bonds (63.7%), cash (17.0%), other (19.3%)
Corporate Info
Group Affiliation
XL Group Ltd
Investment Rating
--
Company Address
C/o The Corporation Trust Comp
WILMINGTON, DE 19801
WILMINGTON, DE 19801
Phone Number
(203) 964-4025
NAIC Number
36940
Website
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