Major Rating Factors:
A history of deficient reserves (2.0 on a scale of 0 to 10). 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 (2.7) with operating losses during 2023. Vulnerable liquidity (2.2) as a spike in claims may stretch capacity.
Other Rating Factors:
Weak overall results on stability tests (1.1) including weak risk adjusted capital in prior years and negative cash flow from operations for 2025. The largest net exposure for one risk is excessive at 19.6% of capital. Fair long-term capitalization index (3.6) based on fair current risk adjusted capital (severe and moderate loss scenarios), although results have slipped from the excellent range during the last year.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Comm multi (42.6%), personal/comm auto (33.1%), med mal (4.1%), fire (2.0%), fin guar/surety (0.8%), product liab. (0.2%), other (17.3%)
Licensed in:
PR, VI
Principal Investments:
Investment grade bonds (87.2%), cash (10.2%), other (2.6%)
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