C
STARSTONE SPECIALTY INS CO
Rating Date
December 2023
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: Fair overall results on stability tests (3.9 on a scale of 0 to 10) including potential drain of affiliation with Enstar Group Ltd, excessive premium growth and weak results on operational trends. Fair profitability index (3.7) with operating losses during 2018, 2019, 2020 and 2021. Average return on equity over the last five years has been poor at -3.3%.
Other Rating Factors: Good long-term capitalization index (5.9) based on good current risk adjusted capital (moderate loss scenario). Over the last several years, capital levels have remained relatively consistent. History of adequate reserve strength (6.6) as reserves have been consistently at an acceptable level. Good liquidity (6.8) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors: 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: Fire (45.6%), med mal (11.6%), personal/comm auto (2.2%), homeowners (1.3%), product liab. (1.1%), other (38.0%)
Licensed in: All states, the District of Columbia and Puerto Rico
Principal Investments: Investment grade bonds (55.1%), common stock (41.2%), cash (3.2%), other (0.6%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
Enstar Group Ltd
Investment Rating
--
Company Address
1209 Orange Street
WILMINGTON, DE 19801
Phone Number
(201) 743-7723
NAIC Number
44776
Largest Affiliates
D
WILMINGTON, DE - P&C
Weiss Ratings