Major Rating Factors:
Weak overall results on stability tests (2.7 on a scale of 0 to 10) including weak results on operational trends and negative cash flow from operations for 2022. Strengths include potentially strong support from affiliation with Main Street America Group Inc.
Other Rating Factors:
Weak profitability index (2.9) with operating losses during 2018. Average return on equity over the last five years has been poor at -2.9%. Good liquidity (5.1) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Stability Factors:
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (39.7%), homeowners (28.7%), fin guar/surety (12.7%), work comp (6.8%), comm multi (4.6%), fire (0.5%), other (6.9%)
Licensed in:
All states except AK, CA, HI, PR
Principal Investments:
Common stock (50.1%), investment grade bonds (46.4%), real estate (1.1%), other (2.4%)
Corporate Info
Group Affiliation
Main Street America Group Inc
Investment Rating
--
Company Address
4601 Touchton Road East Ste 34
JACKSONVILLE, FL 32246
JACKSONVILLE, FL 32246
Phone Number
(414) 369-5033
NAIC Number
14788
Website
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