Major Rating Factors:
Fair long-term capitalization index (3.9 on a scale of 0 to 10) based on fair current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2021. Fair overall results on stability tests (3.3) including weak risk adjusted capital in prior years. The largest net exposure for one risk is excessive at 9.2% of capital. Ample reserve history (7.0) that can protect against increases in claims costs.
Other Rating Factors:
Excellent profitability index (8.2). Excellent liquidity (7.4) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Fin guar/surety (100.0%)
Licensed in:
All states and PR
Principal Investments:
Cash (48.4%), investment grade bonds (44.7%), non investment grade bonds (4.4%), other (2.5%)
Corporate Info
Group Affiliation
Chestnut Group Inc
Investment Rating
--
Company Address
One Newark Center
Newark, NJ 07102
Newark, NJ 07102
Phone Number
(800) 333-4167
NAIC Number
13285
Website
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