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333 Guadalupe St. P.O. Box 149104 Austin, TX 78714-9104

BALBOA INSURANCE COMPANY

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Table of Contents
General Info | Contact Info | Types of Insurance | Use of Credit | Attorney for Service | Ratings | Financial Info | Premiums | Complaint Ratios | Company History | Company Officers

General Information:

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Type of Entity:  Authorized Company (AUTH)
Status of TX License:  Active
Company Status:  Normal Operations
License Number:  7550
License Type:  Fire and Casualty (FC)
NAIC Number:  24813
TDI Company Number:  7550
FEIN:  956027860
Home City/State:  CA
Origin:  Foreign
Date Incorporated/Organized:  02/06/1948
Date Licensed/Eligible/Registered in Texas:  10/08/1956
Date Cancelled/Ineligible/Inactive:  

Contact Information:

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Mailing Address:  P O Box 19702
 Irvine CA 92623-9702
Office Number:  (949)954-9037
Toll Free Number:  (800)854-6115
Fax Number:  (704)719-8481

Physical Address:  3349 Michelson Drive Suite 200
 Irvine CA 92612-8881
Office Number:  
Toll Free Number:  
Fax Number:  


Types of Insurance Licensed to Write:

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Use of Credit:

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To determine if a company uses credit information for private passenger automobile or homeowners insurance.


Attorney for Service:

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Rating By Financial Organization:

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The following organizations rate insurance companies on their financial strength and stability. Some of these companies charge for their services.



Financial Information:

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As of: Dec. 31, 2011 Dec. 31, 2012 Dec. 31, 2013
Total Assets   $1,975,879,539     $580,822,086     $297,528,226  
Total Liabilities   $631,740,440     $139,257,024     $103,057,762  
Asset to Liability Ratio   3.1     4.1     2.8  
Capital   $4,250,000     $4,250,000     $4,250,000  
Net Surplus   $1,339,889,099     $437,315,062     $190,220,464  
Total Life Ins   N/A     N/A     N/A  


Premiums:

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As of: Dec. 31, 2011 Dec. 31, 2012 Dec. 31, 2013
Life and Annuities   N/A     N/A     N/A  
Accident and Health   $0     $0     $0  
Property and Casualty   $26,473,116     $10,100,748     ($114,651)  
Total Texas Premium   $26,473,116     $10,100,748     ($114,651)  
National Premium   $809,288,160     $320,190,668     $573,934  


Complaint Information:

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When considering the company's complaint index and ratio, be sure to review the company history information displayed below for recent acquisitions, mergers, or other events that may affect the figures displayed for this company.


  Dec 31, 2012 Dec 31, 2013 Apr 18, 2014
Confirmed Complaints:      
Life and Annuity 0 1 0
Accident and Health 0 0 0
Homeowner 4 3 0
Automobile 0 0 0
Workers' Compensation 0 0 0
Complaint Ratio/Index Ratio Index Ratio Index  
Life and Annuities N/A N/A .0000 .0000 N/A
Accident and Health N/A N/A N/A N/A N/A
Homeowner .0724 15.3753 .2988 84.0071 N/A
Automobile N/A N/A N/A N/A N/A
Workers' Compensation N/A N/A N/A N/A N/A

Confirmed Complaints: the number of confirmed complaints closed against the company for the line of insurance and year indicated. A complaint is confirmed if the department receives information indicating that a company committed any violation of an applicable state insurance law or regulation, a federal requirement the department has authority to enforce or the term or condition of an insurance policy or certificate. A complaint is also confirmed if the complaint and company's response, considered together, suggest that the company was in error or that the complainant had a valid reason for the complaint.

Complaint Ratios: the ratio, expressed as a percentage, is the number of closed confirmed complaints divided by the number of policies the company had in force for the line of insurance and year indicated.

Complaint Index: indicates how a company's ratio of the number of complaints to the number of policyholders compares to the average for all insurers. The index is calculated by dividing the company's percentage of complaints for a specific line of insurance by the company's percentage of the policies in force for the same line of insurance. The average index is 1.00. A number less than 1 indicates fewer complaints than average; a number greater than 1 indicates more complaints than average. For the most recent completed year, a given insurer's index may change over time, as policy count data is received by TDI. This will affect each insurer's percentage of the total.

Complaints against an insurance company are not part of the complaint tally above if the insurance company served only as a Third Party Administrator (TPA), a company hired simply to administer the paperwork of a health plan. Instead, they are included in the complaint record of the insurance company or HMO that hired the TPA. If a bonafide self-insured benefit plan hired the TPA, no complaint numbers are recorded as a part of the company/TPA's profile. Neither are profiles available for self-insured plans, as such plans are regulated under federal law.


Company History:

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Date Event
06-20-2012 APPROVED TO WITHDRAW FROM WRITING HOMEOWNERS MULTIPLE PERIL INSURANCE AND INLAND MARINE INSURANCE IN TEXAS. COMPANY MAY NOT RE-ENTER MARKET FOR THESE LINES WITHOUT PRIOR APPROVAL UNTIL 6/20/2017.
03-30-2011 APPROVED TO REDUCE ITS TOTAL ANNUAL DIRECT WRITTEN PREMIUM VOLUME IN FIRE, FARMOWNERS MULTIPLE PERIL AND HOMEOWNERS MULTIPLE PERIL IN CERTAIN TERRITORIES IN TEXAS.
04-27-2010 APPROVED TO WITHDRAW FROM WRITING PRIVATE PASSENGER AUTOMOBILE INSURANCE IN TEXAS. COMPANY MAY NOT RE-ENTER MARKET FOR THIS LINE WITHOUT PRIOR APPROVAL UNTIL 4/27/2015.
01-04-2010 EFFECTIVE 12/31/2009 NEWPORT E&S INSURANCE COMPANY (95648) PLANO, TEXAS APPROVED TO MERGE INTO COMPANY.
08-31-1995 PENALTY OF $37,900 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN FLORIDA.
03-11-1994 ADDED CREDIT INSURANCE.
08-04-1992 ADDED CREDIT INVOLUNTARY UNEMPLOYMENT INSURANCE.
06-06-1986 MOVED HOME OFFICE FROM NEWPORT BEACH, CALIFORNIA TO IRVINE, CALIFORNIA.
01-28-1971 MOVED HOME OFFICE FROM LOS ANGELES, CALIFORNIA TO NEWPORT BEACH, CALIFORNIA.
10-08-1956 GRANDFATHERED FOR CAPITAL AND SURPLUS REQUIREMENTS


Company Officers:

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Title Name
President TIMOTHY A BURDICK
Secretary ERIC CHAMBERLAIN
Treasurer KENNETH L MERTZEL