Granada Indemnity Co
Major Rating Factors:
History of adequate reserve strength (5.8 on a scale of 0 to 10) as reserves have been consistently at an acceptable level. Good overall results on stability tests (6.2) despite. Stability strengths include good operational trends and excellent risk diversification. Strong long-term capitalization index (8.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years.
Other Rating Factors:
Excellent profitability index (7.2) despite operating losses during 2021 and 2022. Excellent liquidity (8.7) with ample operational cash flow and liquid investments.
Stability Factors:
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Comm multi (47.3%), personal/comm auto (26.5%), homeowners (13.2%), fire (8.9%), other (4.1%)
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 (79.6%), cash (20.3%), other (0.1%)
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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