Major Rating Factors:
Fair reserve development (3.5 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. In 2024 the two year reserve development was 20.5% deficient. Good overall profitability index (5.8) with small operating losses during 2024. Return on equity has been fair, averaging 5.9% over the past five years. Good overall results on stability tests (6.8) despite. Stability strengths include good operational trends, good risk adjusted capital for prior years and excellent risk diversification. The largest net exposure for one risk is conservative at 1.4% of capital.
Other Rating Factors:
Strong long-term capitalization index (7.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2020. Excellent liquidity (7.5) with ample operational cash flow and liquid investments.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Fire (6.7%), fin guar/surety (6.0%), comm multi (3.7%), personal/comm auto (1.7%), work comp (0.4%), med mal (0.2%), other (81.3%)
Licensed in:
All states except FL, HI, ID, IN, KY, ME, MN, MO, MT, NC, ND, NE, NH, OR, RI, TN, VT, WY, also licensed in Canada, GU
Principal Investments:
Investment grade bonds (84.9%), non investment grade bonds (6.8%), cash (0.6%), other (7.8%)
Corporate Info
Group Affiliation
Groupe Covéa - Société de Groupe dAssurance Mutuelle
Investment Rating
--
Company Address
200 First Stamford Place
Stamford, CT 06902
Stamford, CT 06902
Phone Number
(203) 485-4200
NAIC Number
38636
Website
Largest Affiliates