NGM Ins Co
Major Rating Factors:
A history of deficient reserves (2.9 on a scale of 0 to 10). Underreserving can have an adverse impact on capital and profits. In 2019 the two year reserve development was 31.5% deficient. Fair overall results on stability tests (4.8) including excessive premium growth, weak results on operational trends and negative cash flow from operations for 2023. Good profitability index (4.9) with operating gains in each of the last five years. Excellent expense controls. Return on equity has been fair, averaging 10.5% over the past five years.
Other Rating Factors:
Good liquidity (5.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Stability Factors:
F - Negative cash flow.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (41.9%), comm multi (31.3%), homeowners (13.7%), fin guar/surety (3.7%), work comp (3.5%), fire (0.2%), other (5.7%)
Licensed in:
All states except AK, CA, HI
Principal Investments:
Common stock (51.1%), investment grade bonds (43.4%), real estate (0.9%), other (4.5%)
Corporate Info
Group Affiliation
American Family Ins Group
Investment Rating
--
Company Address
4601 Touchton Road East
Jacksonville, FL 32246
Jacksonville, FL 32246
Phone Number
(904) 380-7282
NAIC Number
14788
Website
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