Heritage Indemnity Co
Major Rating Factors:
Fair reserve development (3.6 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Good profitability index (4.9) with small operating losses during 2021. Excellent expense controls. Return on equity has been low, averaging 1.7% over the past five years. Good overall results on stability tests (5.9) despite excessive premium growth. Other stability subfactors include potentially strong support from affiliation with Evergreen Parent Gp LLC, good operational trends and excellent risk diversification.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Superior liquidity (10.0) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
Principal Lines of Business:
Other (100%)
Licensed in:
All states
Principal Investments:
Investment grade bonds (93.5%), cash (6.3%), other (0.2%)
Corporate Info
Group Affiliation
Evergreen Parent Gp LLC
Investment Rating
--
Company Address
400 Executive Boulevard
Southington, CT 06489
Southington, CT 06489
Phone Number
(216) 328-6216
NAIC Number
39527
Website
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