EMC ReIns Co
Major Rating Factors:
Fair reserve development (3.4 on a scale of 0 to 10) as the level of reserves has at times been insufficient to cover claims. Deficiencies in the two year reserve development occurred in three of the previous five years and ranged between 27.6% and 32.1%. Fair overall results on stability tests (3.1) including weak results on operational trends, negative cash flow from operations for 2024 and fair risk adjusted capital in prior years. The largest net exposure for one risk is excessive at 5.0% of capital. Strengths include potentially strong support from affiliation with Employers Mutual Casualty Co. Weak profitability index (2.2) with operating losses during 2020, 2021 and 2023.
Other Rating Factors:
Good liquidity (5.3) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (9.8) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2023.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (65.9%), homeowners (3.5%), other (30.5%)
Licensed in:
CO, CT, GA, IA, KS, TX
Principal Investments:
Investment grade bonds (93.7%), preferred stock (0.4%), other (6.0%)
Corporate Info
Group Affiliation
Employers Mutual Casualty Co
Investment Rating
--
Company Address
717 Mulberry Street
Des Moines, IA 50309
Des Moines, IA 50309
Phone Number
(515) 280-2511
NAIC Number
40509
Website
Largest Affiliates