Major Rating Factors:
History of adequate reserve strength (5.8 on a scale of 0 to 10) as reserves have been consistently at an acceptable level. Good overall results on stability tests (6.7) despite. Fair profitability index (4.6) with operating losses during 2022. Return on equity has been low, averaging 1.8% over the past five years.
Other Rating Factors:
Strong long-term capitalization index (9.7) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Good liquidity (7.0) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (55.3%), homeowners (25.9%), work comp (9.0%), comm multi (3.3%), fire (0.8%), other (5.7%)
Licensed in:
IA, IL, IN, KY, MN, OH, PA, TN, VA, WI, WV
Principal Investments:
Investment grade bonds (62.9%), common stock (2.5%), other (34.6%)
Corporate Info
Group Affiliation
Encova Mutual Ins Group Inc
Investment Rating
--
Company Address
471 East Broad Street
Columbus, OH 43215
Columbus, OH 43215
Phone Number
(614) 225-8211
NAIC Number
40932
Website
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