Major Rating Factors:
Poor long-term capitalization index (2.8 on a scale of 0 to 10) based on weak current risk adjusted capital (severe loss scenarios), although results have slipped from the fair range during the last year. Weak profitability index (2.4) with operating losses during each of the last five years. Vulnerable liquidity (2.6) as a spike in claims may stretch capacity.
Other Rating Factors:
Good overall results on stability tests (6.2) despite excessive premium growth and fair risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification. The largest net exposure for one risk is acceptable at 2.0% of capital. History of adequate reserve strength (6.9) as reserves have been consistently at an acceptable level.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
L - Past results on our liquidity tests.
Principal Lines of Business:
Homeowners (92.5%), fire (2.2%), comm multi (0.8%), other (4.5%)
Licensed in:
CT, DE, MA, MD, NJ, NY, PA, RI, VA
Principal Investments:
Investment grade bonds (67.5%), common stock (0.2%), other (32.3%)
Corporate Info
Group Affiliation
Heritage Ins Holdings Inc
Investment Rating
Company Address
1301 Atwood Avenue
Johnston, RI 02919
Johnston, RI 02919
Phone Number
(401) 725-5600
NAIC Number
43001
Website
Largest Affiliates