Major Rating Factors:
Fair profitability index (3.4 on a scale of 0 to 10) with operating losses during 2020, 2021, 2022 and 2023. Average return on equity over the last five years has been poor at -5.0%. Fair overall results on stability tests (3.4) including weak results on operational trends and fair risk adjusted capital in prior years. The largest net exposure for one risk is high at 4.1% of capital. Strong long-term capitalization index (8.4) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2023.
Other Rating Factors:
Ample reserve history (8.1) that helps to protect the company against sharp claims increases. Superior liquidity (9.8) 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:
Work comp (22.7%), personal/comm auto (13.3%), comm multi (10.7%), product liab. (2.1%), fire (0.4%), other (50.9%)
Licensed in:
All states
Principal Investments:
Investment grade bonds (87.9%), non investment grade bonds (1.7%), cash (0.6%), other (9.7%)
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
22551
Website
Largest Affiliates