Major Rating Factors:
Fair profitability index (4.8 on a scale of 0 to 10) with operating losses during 2022 and 2023. Fair overall results on stability tests (4.4) including negative cash flow from operations for 2025 and good risk adjusted capital in prior years. The largest net exposure for one risk is conservative at 1.7% of capital. Fair long-term capitalization index (4.6) based on fair current risk adjusted capital (severe loss scenarios), although results have slipped from the excellent range over the last two years.
Other Rating Factors:
Fair reserve development (5.0) as reserves have generally been sufficient to cover claims. Excellent liquidity (8.4) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
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:
Comm multi (40.3%), work comp (14.1%), personal/comm auto (1.6%), fin guar/surety (0.5%), other (43.5%)
Licensed in:
All states except CT, DC, HI, IL, ME, MN, NJ, NV, SC, VA, WA
Principal Investments:
Investment grade bonds (93.9%), cash (1.1%), other (5.0%)
Corporate Info
Group Affiliation
Octave Specialty Group Inc
Investment Rating
Company Address
40 Wall Street
New York, NY 10005
New York, NY 10005
Phone Number
(855) 355-0327
NAIC Number
43974
Website
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