Major Rating Factors:
Poor long-term capitalization index (0.1 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). A history of deficient reserves (1.4) that places pressure on both capital and profits. The one year reserve development was deficient in three of the last five years by between 29.4% and 70.4%. Fair overall results on stability tests (3.4) including weak risk adjusted capital in prior years. The largest net exposure for one risk is high at 3.2% of capital.
Other Rating Factors:
Good overall profitability index (5.8) despite operating losses during 2020 and 2021. Excellent liquidity (7.2) 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.
Principal Lines of Business:
Personal/comm auto (100.0%)
Licensed in:
AL, AZ, IA, IL, IN, KY, LA, MT, NV, NY, OH, OR, TX, WI
Principal Investments:
Investment grade bonds (64.9%), cash (21.8%), other (13.3%)
Corporate Info
Group Affiliation
Huntington Asset Management Ltd
Investment Rating
--
Company Address
One Metrotech Center
Brooklyn, NY 11201
Brooklyn, NY 11201
Phone Number
(718) 215-5300
NAIC Number
10413
Website
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