Major Rating Factors:
Poor long-term capitalization index (2.6 on a scale of 0 to 10) based on weak current risk adjusted capital (severe loss scenarios). A history of deficient reserves (1.2). Underreserving can have an adverse impact on capital and profits. In 2024 and 2023 the two year reserve development was 77.0% and 84.6% deficient respectively. Weak profitability index (1.4) with operating losses during 2023. Average return on equity over the last five years has been poor at -18.0%.
Other Rating Factors:
Good liquidity (6.7) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Excellent overall results on stability tests (7.2). Stability strengths include good operational trends and excellent risk diversification.
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:
Comm multi (43.0%), personal/comm auto (32.1%), med mal (4.3%), fire (1.9%), fin guar/surety (0.7%), product liab. (0.2%), other (17.9%)
Licensed in:
PR, VI
Principal Investments:
Investment grade bonds (90.4%), cash (2.6%), other (7.0%)
Corporate Info
Group Affiliation
GuideWell Mutual Holding Corporation
Investment Rating
--
Company Address
Plaza Triple-S, Inc.
Guaynabo, PR 00968
Guaynabo, PR 00968
Phone Number
(787) 749-4600
NAIC Number
40568
Largest Affiliates