American Millennium Ins Co
Major Rating Factors:
Poor long-term capitalization index (0.8 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). Fair reserve development (3.4) as the level of reserves has at times been insufficient to cover claims. Deficiencies in the two year reserve development occurred in three of the previous five years and ranged between 24.7% and 132.4%. Fair profitability index (2.9) with operating losses during 2020, 2021 and 2022.
Other Rating Factors:
Fair overall results on stability tests (2.9) including weak risk adjusted capital in prior years and excessive premium growth. The largest net exposure for one risk is high at 4.1% of capital. Excellent liquidity (7.9) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
G - Fast asset or premium growth.
Principal Lines of Business:
Personal/comm auto (98.7%), other (1.3%)
Licensed in:
AZ, DC, FL, ME, NC, NJ, PA, SC, TX
Principal Investments:
Cash (78.5%), investment grade bonds (18.8%), preferred stock (1.4%), common stock (0.9%), non investment grade bonds (0.4%)
Corporate Info
Group Affiliation
Citadel ReIns Co Limited
Investment Rating
--
Company Address
1011 Route 22 West
Bridgewater, NJ 08807
Bridgewater, NJ 08807
Phone Number
(973) 628-6060
NAIC Number
26140
Website
Largest Affiliates
No affiliate information available.