Great Bay Ins Co
Major Rating Factors:
Poor long-term capitalization index (2.3 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios), although results have slipped from the excellent range during the last year. Weak overall results on stability tests (2.3) including weak results on operational trends, weak risk adjusted capital in prior years and lack of operational experience. The largest net exposure for one risk is high at 4.9% of capital. Fair profitability index (4.0) with operating losses during 2019 and 2020. Average return on equity over the last five years has been poor at -2.2%.
Other Rating Factors:
Good liquidity (5.5) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. History of adequate reserve strength (7.0) as reserves have been consistently at an acceptable level.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
E - Lack of operating experience.
G - Fast asset or premium growth.
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 (100.0%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (47.9%), cash (10.4%), other (41.7%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
8025 Black Horse Pike
Pleasantville, NJ 08232
Pleasantville, NJ 08232
Phone Number
(609) 434-2000
NAIC Number
16620
Largest Affiliates
No affiliate information available.