Major Rating Factors:
Fair overall results on stability tests (4.1 on a scale of 0 to 10) including weak results on operational trends. Good overall profitability index (6.0) despite operating losses during 2020 and 2021. Excellent expense controls. Return on equity has been fair, averaging 7.5% over the past five years. Strong long-term capitalization index (7.3) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital has steadily grown over the last five years.
Other Rating Factors:
History of adequate reserve strength (6.9) as reserves have been consistently at an acceptable level. Excellent liquidity (8.8) with ample operational cash flow and liquid investments.
Stability Factors:
G - Fast asset or premium growth.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (52.0%), homeowners (17.9%), fire (2.7%), med mal (1.0%), comm multi (0.6%), work comp (0.6%), product liab. (0.2%), other (25.2%)
Licensed in:
All states except NY
Principal Investments:
Investment grade bonds (52.5%), cash (4.1%), other (43.4%)
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
(609) 250-7841
NAIC Number
21075
Website
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