Major Rating Factors:
A history of deficient reserves (1.4 on a scale of 0 to 10) that places pressure on both capital and profits. In 2019 and 2023 the two year reserve development was 83.9% and 84.6% deficient respectively. Weak profitability index (0.8) with operating losses during 2023. Fair long-term capitalization index (4.5) based on excellent current risk adjusted capital (severe loss scenarios) reflecting significant improvement over results in 2019.
Other Rating Factors:
Vulnerable liquidity (2.9) as a spike in claims may stretch capacity. Fair overall results on stability tests (4.2) including weak risk adjusted capital in prior years and weak results on operational trends.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Comm multi (41.5%), personal/comm auto (33.2%), med mal (4.8%), fire (1.9%), fin guar/surety (0.8%), product liab. (0.2%), other (17.5%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (73.5%), other (26.5%)
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