Major Rating Factors:
Poor long-term capitalization index (1.7 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). Fair profitability index (2.9) with operating losses during 2020, 2021 and 2022. Average return on equity over the last five years has been poor at -17.9%. Fair overall results on stability tests (4.2) including weak risk adjusted capital in prior years. The largest net exposure for one risk is acceptable at 2.6% of capital.
Other Rating Factors:
History of adequate reserve strength (5.8) as reserves have been consistently at an acceptable level. Superior liquidity (9.3) 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.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (100.0%)
Licensed in:
NC
Principal Investments:
Investment grade bonds (47.6%), cash (36.0%), common stock (16.3%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
26 Second Street
Edison, NJ 08837
Edison, NJ 08837
Phone Number
(833) 998-2500
NAIC Number
15947
Website
Largest Affiliates
No affiliate information available.