D
Voyager Indemnity Ins Co
AtlantaGA
Rating Date
April 2025
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
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Major Rating Factors: A history of deficient reserves (0.5 on a scale of 0 to 10). Underreserving can have an adverse impact on capital and profits. In the last five years, reserves (two year development) fluctuated between 16.6% and 193.8% deficient. Vulnerable liquidity (2.1) as a spike in claims may stretch capacity. Fair long-term capitalization index (3.0) based on fair current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2022.
Other Rating Factors: Fair profitability index (3.6) with operating losses during 2022 and 2023. Good overall results on stability tests (6.4) despite weak risk adjusted capital in prior years and negative cash flow from operations for 2024. Stability strengths include good operational trends and excellent risk diversification. The largest net exposure for one risk is acceptable at 2.1% of capital.
Stability Factors: C - Past results on our Risk-Adjusted Capital tests. F - Negative cash flow.
Principal Lines of Business: Fire (16.3%), homeowners (8.3%), personal/comm auto (2.6%), other (72.8%)
Licensed in: GA
Principal Investments: Investment grade bonds (89.6%), non investment grade bonds (2.9%), preferred stock (1.9%), other (5.5%)
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2-Year Reserve Development
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Investments in Affiliates
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Corporate Info
Group Affiliation
Assurant Inc
Investment Rating
AIZ
Company Address
260 Interstate North Circle, SE
Atlanta, GA 30339
Phone Number
(770) 763-1000
NAIC Number
40428
Largest Affiliates