New Jersey Skylands Ins Assn
Major Rating Factors:
Weak profitability index (1.9 on a scale of 0 to 10) with operating losses during 2021, 2022, 2023 and 2024. Weak overall results on stability tests (0.7) including weak risk adjusted capital in prior years and negative cash flow from operations for 2024. The largest net exposure for one risk is excessive at 22.8% of capital. Fair reserve development (3.2) as the level of reserves has at times been insufficient to cover claims. Deficiencies in the two year reserve development occurred in three of the previous five years and ranged between 15.0% and 27.4%.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2019. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (78.2%), personal/comm auto (18.5%), fire (0.7%), other (2.5%)
Licensed in:
NJ
Principal Investments:
Investment grade bonds (99.8%), other (0.2%)
Corporate Info
Group Affiliation
The Allstate Corporation
Investment Rating
Company Address
5630 University Parkway
Winston-Salem, NC 27105
Winston-Salem, NC 27105
Phone Number
(336) 435-2000
NAIC Number
11454
Website
Largest Affiliates