Development
COVENANT INS CO
Major Rating Factors:
Fair overall results on stability tests (3.7 on a scale of 0 to 10) including potential drain of affiliation with Arbella Ins Group and weak results on operational trends. Good liquidity (6.5) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Strong long-term capitalization index (9.9) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Ample reserve history (8.5) that helps to protect the company against sharp claims increases. Excellent profitability (8.5) with operating gains in each of the last five years.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (60.1%), homeowners (37.2%), other (2.7%)
Licensed in:
CT, MA, NH, RI
Principal Investments:
Investment grade bonds (98.0%), other (2.0%)
Corporate Info
Group Affiliation
Arbella Ins Group
Investment Rating
--
Company Address
76 Batterson Park Road Suite 2
Farmington, CT 06032
Farmington, CT 06032
Phone Number
(414) 369-5033
NAIC Number
10062
Website
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