CARE continues to remain strong and sound financially. It should be noted that an RRG is subject to more regulation than any traditional insurance carriers, is required to operate under a defined and filed business plan, and is subject to the same NAIC reporting requirements including IRIS and Risk Based Capital tests as a traditional insurance company. The CARE financial statements are also closely monitored by Demotech, Inc.
As of December 31, 2015, the company had liquid assets in excess of $14 million out of which the company can currently pay claims.
The company has a surplus balance of over $4.3 million. This balance represents the cumulative capital contributed by the group insureds and the unassigned funds (retained earnings) retained by the company since inception. Now in its eleventh year, CARE has never had a net loss in any year since inception and has unassigned funds generated over those years in the amount of over $1.9 million.
Below is a list of the key Financial Solvency Ratios as of December 31, 2015 as derived from the CARE filed annual NAIC Statement: