Major Rating Factors:
Weak profitability index (1.9 on a scale of 0 to 10) with operating losses during 2019, 2022 and the first six months of 2024. Return on equity has been fair, averaging 5.1% over the past five years. Weak overall results on stability tests (2.9) including excessive premium growth, weak results on operational trends and fair risk adjusted capital in prior years. Fair reserve development (3.0) as reserves have generally been sufficient to cover claims.
Other Rating Factors:
Strong long-term capitalization index (7.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2019. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Reinsurance (100.0%)
Licensed in:
IN
Principal Investments:
Investment grade bonds (99.1%), other (0.9%)
Corporate Info
Group Affiliation
Prudential Financial Inc
Investment Rating
Company Address
751 Broad Street
Newark, NJ 07102
Newark, NJ 07102
Phone Number
(973) 802-6000
NAIC Number
11821
Website
Largest Affiliates
