CITIZENS PROPERTY INS CORP
Major Rating Factors:
Weak profitability index (1.6 on a scale of 0 to 10) with operating losses during 2018 and 2022. Weak overall results on stability tests (2.8) including excessive premium growth and weak results on operational trends. The largest net exposure for one risk is acceptable at 2.7% of capital.
Other Rating Factors:
Good long-term capitalization index (5.2) based on fair current risk adjusted capital (severe loss scenario), although results have slipped from the excellent range over the last two years. Fair reserve development (4.5) as reserves have generally been sufficient to cover claims. Good liquidity (5.7) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (70.8%), fire (1.6%), other (27.6%)
Licensed in:
FL
Principal Investments:
Investment grade bonds (92.2%), other (7.8%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
2101 MARYLAND CIRCLE
Tallahassee, FL 32303
Tallahassee, FL 32303
Phone Number
(850) 513-3892
NAIC Number
10064
Website
Largest Affiliates
No affiliate information available.
