Major Rating Factors:
Fair profitability index (4.2 on a scale of 0 to 10) with operating losses during 2018 and 2022. Return on equity has been fair, averaging 7.7% over the last five years. Fair overall results on stability tests (3.3) based on a decline in the number of member physicians during 2022. Rating is significantly influenced by the weak financial results of Horizon Healthcare Services Inc. Weak liquidity (2.3) as a spike in claims may stretch capacity.
Other Rating Factors:
Excellent overall capitalization (10.0) based on good current risk-adjusted capital (severe loss scenario) despite some fluctuation in capital levels. Excellent quality investment portfolio (9.2) containing small junk bond exposure.
Principal Lines of Business:
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Licensed in:
NJ
Principal Enrollment Breakdown:
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Corporate Info
Group Affiliation
Horizon Healthcare Services Inc
Investment Rating
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Company Address
Three Penn Plaza, East
Newark, NJ 07105
Newark, NJ 07105
Phone Number
(973) 466-5607
NAIC Number
14690
Website
Largest Affiliates