E
PHYSICIANS RECIPROCAL INSURERS
RoslynIL
Rating Date
December 2023
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: Poor long-term capitalization index (0.0 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). A history of deficient reserves (2.2). Underreserving can have an adverse impact on capital and profits. In four of the last five years reserves (two year development) were between 22% and 45% deficient.
Other Rating Factors: Weak profitability index (0.4). Weak expense controls. Weak overall results on stability tests (0.0) including weak risk adjusted capital in prior years, weak results on operational trends and negative cash flow from operations for 2022. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors: C - Past results on our Risk-Adjusted Capital tests. F - Negative cash flow. R - Concerns about the financial strength of its reinsurers. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Med mal (100.0%)
Licensed in: NY
Principal Investments: Investment grade bonds (50.3%), common stock (13.5%), non investment grade bonds (8.4%), real estate (3.7%), cash (3.3%), other (20.8%)
Ratios
Premium to Surplus
Reserve to Surplus
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1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
AJB Ventures Ins (New York)
Investment Rating
--
Company Address
1800 Northern Boulevard
Roslyn, NY 11576
Phone Number
(414) 369-5033
NAIC Number
41467
Largest Affiliates
D
Roslyn, NY - P&C
Weiss Ratings