The rating reflects Orange Insurance Exchange’s capable management team, which is well experienced in underwriting Florida's high-risk catastrophe market and has successfully executed several key strategic initiatives since the company’s inception. Orange maintains a conservative balance sheet characterized by strong liquidity, a high-quality investment portfolio and disciplined asset/liability management. Additionally, Orange has a well-established and diversified distribution network consisting of 3,000 active independent agents and several large agencies. KBRA views the breadth of these distribution channels favorably, as they provide multiple avenues for profitable business generation while reducing dependence on any single producer or distribution source.
Balancing these strengths is the company’s high financial leverage due to the majority of its surplus base currently consisting of $37 million in surplus notes. While Orange is targeting growth in the Florida…
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