Major Rating Factors:
Good liquidity (6.4 on a scale of 0 to 10) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Fair reserve development (3.8) as reserves have generally been sufficient to cover claims. In 2025 the one year reserve development was 22.0% deficient. Fair profitability index (3.7) with operating losses during 2024 and 2025.
Other Rating Factors:
Fair overall results on stability tests (4.9) including negative cash flow from operations for 2025. Strong long-term capitalization index (7.4) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2022.
Stability Factors:
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:
Work comp (100.1%)
Licensed in:
All states except ND, NY, OH, WA, WY
Principal Investments:
Investment grade bonds (72.8%), common stock (7.8%), cash (2.4%), preferred stock (2.3%), non investment grade bonds (1.2%), other (13.5%)
Corporate Info
Group Affiliation
Gray Family
Investment Rating
--
Company Address
6907 North Capital of Texas Highway
Austin, TX 78731
Austin, TX 78731
Phone Number
(512) 637-3104
NAIC Number
43389
Website
Largest Affiliates