Major Rating Factors:
Fair reserve development (3.2 on a scale of 0 to 10) as the level of reserves has at times been insufficient to cover claims. In four of the last five years reserves (two year development) were between 20.7% and 25.6% deficient. Good overall profitability index (6.7) despite operating losses during 2019. Return on equity has been fair, averaging 6.5% over the past five years. Strong long-term capitalization index (7.2) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2021.
Other Rating Factors:
Excellent liquidity (7.4) with ample operational cash flow and liquid investments. Excellent overall results on stability tests (8.4). Strengths include potentially strong support from affiliation with The Hartford Ins Group Inc, excellent operational trends, good risk adjusted capital for prior years and excellent risk diversification.
Stability Factors:
Principal Lines of Business:
Comm multi (7.1%), personal/comm auto (4.0%), fin guar/surety (3.0%), med mal (0.6%), farmowners (0.1%), other (85.3%)
Licensed in:
All states and GU, PR, VI
Principal Investments:
Investment grade bonds (75.6%), non investment grade bonds (2.9%), common stock (2.8%), preferred stock (0.8%), cash (0.7%), other (17.2%)
Corporate Info
Group Affiliation
The Hartford Ins Group Inc
Investment Rating
Company Address
One Penn Plaza
New York, NY 10119
New York, NY 10119
Phone Number
(212) 244-2333
NAIC Number
42307
Website
Largest Affiliates