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Arrowhead General Insurance Agency Inc. Jun 11
Standard & Poors, June 2011
Abstract
Diverse product revenue in chosen niche specialty programs. History of producing low loss ratios, solidifying carrier interest in programs. Strong EBITDA margin. Moderately improved financial profile due to recent debt refinancing. Highly leveraged capital structure. Weak fixed-charge coverage. Earnings volatility in certain business segments due to economic and pricing cycles. High level of dependency on a few key business lines. Broker industry risks, including carrier consolidation, constricted access to carriers, and agent misconduct. The counterparty credit rating on Arrowhead General Insurance Agency Inc., a multiline general agent with a niche property/casualty (P/C) insurance focus, reflects its leveraged capital structure, low coverage metrics, high level of dependency on key business lines and disproportionate exposure to California. In addition, the company operates...
Companies mentioned in this report are: Arrowhead General Insurance Agency Inc.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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