Major Rating Factors:
Fair reserve development (3.7 on a scale of 0 to 10) as the level of reserves has at times been insufficient to cover claims. In 2022 and 2021 the two year reserve development was 19.5% and 20.0% deficient respectively. Fair overall results on stability tests (4.0) including fair risk adjusted capital in prior years. The largest net exposure for one risk is acceptable at 2.0% of capital. Fair long-term capitalization index (4.9) based on fair current risk adjusted capital (severe loss scenarios), although results have slipped from the good range during the last year.
Other Rating Factors:
Good liquidity (6.7) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Excellent profitability index (8.7) with operating gains in each of the last five years.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Comm multi (34.6%), other (65.4%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (91.7%), cash (8.3%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
Four Industrial Way, West
Eatontown, NJ 07724
Eatontown, NJ 07724
Phone Number
(848) 208-2000
NAIC Number
21806
Website
Largest Affiliates
No affiliate information available.