Great Bay Ins Co
Major Rating Factors:
Weak overall results on stability tests (2.5 on a scale of 0 to 10) including weak results on operational trends and weak risk adjusted capital in prior years. The largest net exposure for one risk is high at 3.9% of capital. Good overall profitability index (5.5) despite operating losses during 2020. Excellent expense controls. Strong long-term capitalization index (8.6) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2023.
Other Rating Factors:
Ample reserve history (7.5) that can protect against increases in claims costs. Excellent liquidity (7.5) 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.
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:
MA, NJ
Principal Investments:
Investment grade bonds (49.9%), cash (18.5%), non investment grade bonds (0.7%), other (30.9%)
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.