MDAdvantage Ins Co of NJ
Major Rating Factors:
Weak profitability index (2.8 on a scale of 0 to 10) with operating losses during 2022 and 2023. Fair reserve development (3.7) as reserves have generally been sufficient to cover claims. Good overall results on stability tests (5.8) despite excessive premium growth and fair risk adjusted capital in prior years. Stability strengths include good operational trends and excellent risk diversification.
Other Rating Factors:
Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2022. Excellent liquidity (7.8) with ample operational cash flow and liquid investments.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Med mal (100.0%)
Licensed in:
CT, DC, DE, MA, MD, NJ, OH, PA, RI, VA, WV
Principal Investments:
Investment grade bonds (77.7%), cash (7.5%), other (14.7%)
Corporate Info
Group Affiliation
MAG Mutual Holding Co
Investment Rating
--
Company Address
100 Franklin Corner Road
Lawrenceville, NJ 08648
Lawrenceville, NJ 08648
Phone Number
(609) 896-2404
NAIC Number
11498
Website
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