New York Marine & Genl Ins Co
Major Rating Factors:
Fair reserve development (3.9 on a scale of 0 to 10) as the level of reserves has at times been insufficient to cover claims. In 2022 and 2023 the two year reserve development was 24.5% and 26.0% deficient respectively. Fair profitability index (4.4) with operating losses during 2021, 2022 and 2023. Strong long-term capitalization index (7.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2024.
Other Rating Factors:
Good liquidity (7.0) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Excellent overall results on stability tests (8.5). Stability strengths include excellent operational trends, good risk adjusted capital for prior years and excellent risk diversification.
Stability Factors:
Principal Lines of Business:
Personal/comm auto (19.9%), fire (10.1%), comm multi (5.1%), work comp (2.7%), fin guar/surety (2.6%), other (59.7%)
Licensed in:
All states and PR, VI
Principal Investments:
Investment grade bonds (79.8%), common stock (9.3%), cash (5.5%), preferred stock (1.1%), non investment grade bonds (0.9%), other (3.4%)
Corporate Info
Group Affiliation
TowerBrook Capital Partners LP
Investment Rating
--
Company Address
412 Mount Kemble Avenue
Morristown, NJ 07960
Morristown, NJ 07960
Phone Number
(800) 774-2755
NAIC Number
16608
Website
Largest Affiliates