Major Rating Factors:
Strong long-term capitalization index (7.1 on a scale of 0 to 10) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2022. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. History of adequate reserve strength (6.7) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Good overall profitability index (6.8) despite operating losses during 2019 and 2020. Return on equity has been low, averaging 4.1% over the past five years. Good overall results on stability tests (6.9) despite. Stability strengths include excellent operational trends, good risk adjusted capital for prior years and excellent risk diversification. The largest net exposure for one risk is acceptable at 2.2% of capital.
Stability Factors:
L - Past results on our liquidity tests.
Principal Lines of Business:
Work comp (5.9%), fire (4.0%), personal/comm auto (2.5%), fin guar/surety (2.4%), product liab. (0.2%), other (85.0%)
Licensed in:
All states and Canada, GU, MP, PR, VI
Principal Investments:
Investment grade bonds (82.9%), common stock (3.8%), cash (2.2%), other (11.1%)
Corporate Info
Group Affiliation
AXA SA
Investment Rating
--
Company Address
677 Washington Blvd
Stamford, CT 06901
Stamford, CT 06901
Phone Number
(203) 964-5200
NAIC Number
37885
Website
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