Major Rating Factors:
Fair overall results on stability tests (3.1 on a scale of 0 to 10) including weak results on operational trends and excessive premium growth. The largest net exposure for one risk is excessive at 5.5% of capital. Good profitability index (4.9) with operating losses during 2022 and 2023. Strong long-term capitalization index (7.8) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2023.
Other Rating Factors:
Ample reserve history (8.1) that helps to protect the company against sharp claims increases. Excellent liquidity (8.0) with ample operational cash flow and liquid investments.
Stability Factors:
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (5.1%), med mal (2.7%), comm multi (2.1%), work comp (1.3%), other (88.8%)
Licensed in:
NY
Principal Investments:
Investment grade bonds (81.9%), cash (0.7%), non investment grade bonds (0.3%), other (17.1%)
Corporate Info
Group Affiliation
MS&AD Ins Group Holdings Inc
Investment Rating
--
Company Address
15 Independence Boulevard
Warren, NJ 07059
Warren, NJ 07059
Phone Number
(908) 604-2900
NAIC Number
34886
Website
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