Major Rating Factors:
Poor long-term capitalization index (2.6 on a scale of 0 to 10) based on weak current risk adjusted capital (severe loss scenarios), although results have slipped from the fair range over the last two years. Fair reserve development (4.5) as reserves have generally been sufficient to cover claims. In 2023 the two year reserve development was 15.6% deficient. Fair profitability index (4.6) with operating losses during 2019. Return on equity has been low, averaging 1.2% over the past five years.
Other Rating Factors:
Excellent liquidity (7.1) with ample operational cash flow and liquid investments. Excellent overall results on stability tests (7.2). Stability strengths include good operational trends and excellent risk diversification. The largest net exposure for one risk is conservative at 1.1% of capital.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
Principal Lines of Business:
Comm multi (2.7%), personal/comm auto (2.3%), product liab. (1.6%), med mal (1.5%), homeowners (1.4%), fire (0.8%), other (89.7%)
Licensed in:
All states except AL, AZ, CO, ID, KY, MN, UT
Principal Investments:
Investment grade bonds (59.8%), common stock (34.5%), cash (0.4%), other (5.2%)
Corporate Info
Group Affiliation
Markel Group Inc
Investment Rating
Company Address
535 Springfield Avenue
Summit, NJ 07901
Summit, NJ 07901
Phone Number
(847) 572-6387
NAIC Number
10829
Website
Largest Affiliates