Major Rating Factors:
History of adequate reserve strength (6.1 on a scale of 0 to 10) as reserves have been consistently at an acceptable level. Good overall profitability index (6.7) despite operating losses during 2023 and the first six months of 2024. Return on equity has been fair, averaging 9.2% over the past five years. Fair overall results on stability tests (4.4) including weak results on operational trends and fair risk adjusted capital in prior years.
Other Rating Factors:
Strong long-term capitalization index (8.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2022. Excellent liquidity (7.4) 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.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Other (100%)
Licensed in:
All states
Principal Investments:
Investment grade bonds (96.8%), cash (2.8%), non investment grade bonds (0.4%)
Corporate Info
Group Affiliation
MetLife Inc
Investment Rating
Company Address
700 Quaker Lane
Warwick, RI 02886
Warwick, RI 02886
Phone Number
(401) 827-2400
NAIC Number
39950
Website
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