Major Rating Factors:
Fair reserve development (4.8 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair profitability index (3.7) with operating losses during 2022 and 2023. Return on equity has been low, averaging 2.9% over the past five years. Good long-term capitalization index (5.0) based on fair current risk adjusted capital (severe loss scenarios), although results have slipped from the excellent range during the last year.
Other Rating Factors:
Weak overall results on stability tests (2.8) including excessive premium growth and weak results on operational trends. Superior liquidity (9.0) with ample operational cash flow and liquid investments.
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
D - Limited diversification of general business, policy, and/or investment risk.
G - Fast asset or premium growth.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (54.6%), work comp (30.3%), other (15.1%)
Licensed in:
All states except CT, DC, HI, IL, MA, ME, MN, NJ, NV, RI, SC, VA, WA
Principal Investments:
Investment grade bonds (70.5%), cash (3.7%), other (25.8%)
Corporate Info
Group Affiliation
Ambac Financial Group Inc
Investment Rating
Company Address
One World Trade Center
New York, NY 10007
New York, NY 10007
Phone Number
(855) 355-0327
NAIC Number
43974
Website
Largest Affiliates