Major Rating Factors:
Fair overall results on stability tests (4.6 on a scale of 0 to 10) including excessive premium growth and weak results on operational trends. Strengths include potentially strong support from affiliation with AMBAC Financial Group Inc.
Other Rating Factors:
Fair profitability index (3.3) with operating losses during 2021 and 2022. Return on equity has been fair, averaging 15.5% over the past five years. Strong long-term capitalization index (7.4) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (82.5%), fin guar/surety (15.2%), homeowners (2.3%)
Licensed in:
All states except PR
Principal Investments:
Common stock (61.2%), investment grade bonds (33.5%), other (5.4%)
Corporate Info
Group Affiliation
AMBAC Financial Group Inc
Investment Rating
Company Address
C/o Kutak Rock Llp 8601 N Scot
SCOTTSDALE, AZ 85253
SCOTTSDALE, AZ 85253
Phone Number
(414) 369-5033
NAIC Number
24961
Website
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