MDAdvantage Ins Co of NJ
Major Rating Factors:
Fair reserve development (3.7 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair profitability index (3.9) with operating losses during 2022 and 2023. Good overall results on stability tests (6.2) despite excessive premium growth and fair risk adjusted capital in prior years. Other stability subfactors include potentially strong support from affiliation with MAG Mutual Holding Co, good operational trends and excellent risk diversification.
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 2022. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
Principal Lines of Business:
Med mal (100.0%)
Licensed in:
CT, DC, DE, MA, MD, NJ, OH, PA, RI, VA, WV
Principal Investments:
Investment grade bonds (77.7%), cash (2.1%), other (20.2%)
Corporate Info
Group Affiliation
MAG Mutual Holding Co
Investment Rating
--
Company Address
100 Franklin Corner Road
Lawrenceville, NJ 08648
Lawrenceville, NJ 08648
Phone Number
(609) 896-2404
NAIC Number
11498
Website
Largest Affiliates