KBRA Affirms Rating for Orion180 Insurance Company
12 Jun 2024 | New York
KBRA affirms the BBB+ Insurance Financial Strength Rating (IFSR) for Orion180 Insurance Company. The Outlook for the rating is Stable.
The rating reflects the experienced management team, adequate risk based capital level, and conservative investment portfolio. Offsetting these strengths include exposure to event risk and reinsurance dependence, product and geographic concentration, and execution risk associated with the company's planned expansion into new states and products.
Factors that could positively impact the rating include sustained execution of business plan above forecasts provided to KBRA, organic surplus growth, improved financial flexibility and access to capital, or a favorable change in risk profile. Factors that could negatively impact the rating include an inability to obtain reinsurance on acceptable terms and pricing, causing an increase in loss exposure, a reduction in the company’s ability to underwrite policies or a drag on earnings, execution of plan below forecasts provided to KBRA, an unfavorable change in risk profile, departure of key members of the management team, or the failure to reduce holding company financial leverage.
To access rating and relevant documents, click here.
Click here to view the report.