Major Rating Factors:
Fair profitability index (4.2 on a scale of 0 to 10) with operating losses during 2021, 2022 and 2024. Fair liquidity (4.8) as cash resources may not be adequate to cover a spike in claims. Good long-term capitalization index (5.8) based on good current risk adjusted capital (severe loss scenarios). However, capital levels have fluctuated somewhat during past years.
Other Rating Factors:
Ample reserve history (9.3) that helps to protect the company against sharp claims increases. Excellent overall results on stability tests (7.4). Stability strengths include excellent operational trends, good risk adjusted capital for prior years and excellent risk diversification.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
Principal Lines of Business:
Personal/comm auto (97.9%), homeowners (2.1%)
Licensed in:
NJ
Principal Investments:
Common stock (60.8%), investment grade bonds (27.5%), non investment grade bonds (7.7%), preferred stock (0.2%), other (3.8%)
Corporate Info
Group Affiliation
Palisades Safety and Ins Association
Investment Rating
--
Company Address
581 Main Street
Woodbrige, NJ 07095
Woodbrige, NJ 07095
Phone Number
(732) 978-6000
NAIC Number
22050
Website
Largest Affiliates