Major Rating Factors:
Fair profitability index (4.1 on a scale of 0 to 10) with operating losses during 2021, 2022 and 2024. Good long-term capitalization index (5.9) based on good current risk adjusted capital (severe loss scenarios). Over the last several years, capital levels have remained relatively consistent. Good liquidity (5.4) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Ample reserve history (9.4) that helps to protect the company against sharp claims increases. Excellent overall results on stability tests (8.3). Stability strengths include excellent operational trends, good risk adjusted capital for prior years and excellent risk diversification.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
Principal Lines of Business:
Personal/comm auto (98.9%), homeowners (1.1%)
Licensed in:
NJ
Principal Investments:
Common stock (62.9%), investment grade bonds (26.3%), non investment grade bonds (8.0%), preferred stock (0.2%), other (2.6%)
Corporate Info
Group Affiliation
Palisades Safety and Ins Association
Investment Rating
--
Company Address
581 Main Street
Woodbrige, NJ 07095
Woodbrige, NJ 07095
Phone Number
(732) 978-6000
NAIC Number
22050
Website
Largest Affiliates