Production (Stage)
Privilege Underwriters Recpl
Major Rating Factors:
Fair profitability index (3.7 on a scale of 0 to 10) with operating losses during 2020, 2021, 2022, 2023 and the first three months of 2025. Average return on equity over the last five years has been poor at -18.4%. Fair long-term capitalization index (3.9) based on fair current risk adjusted capital (severe loss scenarios) reflecting improvement over results in 2022. History of adequate reserve strength (5.3) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Good liquidity (6.3) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Excellent overall results on stability tests (7.0) despite weak risk adjusted capital in prior years. Strengths include potentially strong support from affiliation with Tokio Marine Holdings Inc. The largest net exposure for one risk is acceptable at 2.1% of capital.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (63.4%), personal/comm auto (18.7%), other (17.9%)
Licensed in:
All states and Canada
Principal Investments:
Investment grade bonds (70.4%), non investment grade bonds (2.7%), common stock (2.6%), preferred stock (0.2%), other (24.2%)
Corporate Info
Group Affiliation
Tokio Marine Holdings Inc
Investment Rating
--
Company Address
44 South Broadway
White Plains, NY 10601
White Plains, NY 10601
Phone Number
(914) 328-0002
NAIC Number
12873
Website
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