Major Rating Factors:
Fair profitability index (4.3 on a scale of 0 to 10) with operating losses during 2023. Return on equity has been low, averaging 1.8% over the past five years. Fair overall results on stability tests (4.9) including weak results on operational trends. Strong long-term capitalization index (8.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors:
Ample reserve history (8.1) that helps to protect the company against sharp claims increases. Superior liquidity (9.0) with ample operational cash flow and liquid investments.
Stability Factors:
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Comm multi (17.2%), work comp (11.4%), personal/comm auto (7.3%), product liab. (1.0%), fire (0.9%), homeowners (0.2%), other (62.0%)
Licensed in:
All states and PR
Principal Investments:
Investment grade bonds (87.5%), cash (2.4%), common stock (1.5%), non investment grade bonds (1.4%), real estate (0.8%), other (6.5%)
Corporate Info
Group Affiliation
MS&AD Ins Group Holdings Inc
Investment Rating
--
Company Address
15 Independence Boulevard
Warren, NJ 07059
Warren, NJ 07059
Phone Number
(908) 604-2900
NAIC Number
20362
Website
Largest Affiliates