Major Rating Factors:
Good overall profitability index (5.8 on a scale of 0 to 10) despite operating losses during 2020 and 2021. Good overall results on stability tests (6.0) despite negative cash flow from operations for 2024, excessive premium growth and fair risk adjusted capital in prior years. Strong long-term capitalization index (9.4) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2021.
Other Rating Factors:
Excellent liquidity (8.2) with ample operational cash flow and liquid investments. A history of deficient reserves (1.4) that places pressure on both capital and profits. In 2024 the two year reserve development was 123.3% deficient.
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Comm multi (17.3%), fire (3.2%), personal/comm auto (1.2%), homeowners (0.8%), other (77.4%)
Licensed in:
All states
Principal Investments:
Investment grade bonds (90.9%), cash (2.2%), non investment grade bonds (0.2%), other (6.7%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
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Corporate Info
Group Affiliation
SCOR SE
Investment Rating
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Company Address
28 Liberty Street
New York, NY 10005
New York, NY 10005
Phone Number
(212) 480-1900
NAIC Number
39322
Website
Largest Affiliates