Gotham Ins Co
Major Rating Factors:
Fair reserve development (3.4 on a scale of 0 to 10) as the level of reserves has at times been insufficient to cover claims. In 2023 and 2022 the two year reserve development was 25.6% and 28.4% deficient respectively. Fair profitability index (3.8) with operating losses during 2022 and 2023. Average return on equity over the last five years has been poor at -0.0%. Fair overall results on stability tests (4.9) including fair risk adjusted capital in prior years. The largest net exposure for one risk is excessive at 5.4% of capital.
Other Rating Factors:
Good long-term capitalization index (5.2) based on good current risk adjusted capital (severe loss scenarios) reflecting some improvement over results in 2023. Excellent liquidity (8.2) with ample operational cash flow and liquid investments.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Fire (21.0%), personal/comm auto (6.9%), comm multi (3.1%), work comp (1.0%), fin guar/surety (0.6%), other (67.4%)
Licensed in:
NY
Principal Investments:
Investment grade bonds (94.4%), non investment grade bonds (0.7%), other (4.9%)
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
25569
Website
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