Granada Indemnity Co
Major Rating Factors:
Good overall profitability index (6.0 on a scale of 0 to 10) despite operating losses during 2021 and 2022. Good overall results on stability tests (6.2) despite excessive premium growth. Stability strengths include good operational trends and good risk diversification. The largest net exposure for one risk is conservative at 1.8% of capital. Strong long-term capitalization index (7.8) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years.
Other Rating Factors:
History of adequate reserve strength (6.9) as reserves have been consistently at an acceptable level. Excellent liquidity (7.6) with ample operational cash flow and liquid investments.
Stability Factors:
G - Fast asset or premium growth.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Comm multi (50.8%), personal/comm auto (22.9%), homeowners (17.1%), fire (5.7%), other (3.5%)
Licensed in:
AZ, CA, CT, DE, FL, GA, IL, MA, MD, MS, NC, ND, NJ, NY, OH, PA, SC, TX, VA
Principal Investments:
Investment grade bonds (67.6%), cash (32.2%), other (0.2%)
Corporate Info
Group Affiliation
Granada Financial Group
Investment Rating
--
Company Address
370 West Park Avenue
Long Beach, NY 11561
Long Beach, NY 11561
Phone Number
(516) 431-9191
NAIC Number
38148
Website
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