Major Rating Factors:
Good overall profitability index (5.0 on a scale of 0 to 10) despite operating losses during 2022 and 2023. Excellent expense controls. Return on equity has been low, averaging 1.0% over the past five years. Good overall results on stability tests (5.5) despite weak results on operational trends. Fair reserve development (4.3) as reserves have generally been sufficient to cover claims.
Other Rating Factors:
Strong long-term capitalization index (8.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
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 (33.2%), fire (9.9%), personal/comm auto (7.8%), work comp (3.0%), product liab. (0.4%), other (45.7%)
Licensed in:
All states and PR
Principal Investments:
Investment grade bonds (68.1%), common stock (19.9%), cash (2.1%), non investment grade bonds (0.3%), other (9.6%)
Corporate Info
Group Affiliation
Allianz SE
Investment Rating
Company Address
225 West Washington Street
Chicago, IL 60606
Chicago, IL 60606
Phone Number
(888) 466-7883
NAIC Number
21873
Website
Largest Affiliates