Major Rating Factors:
Fair profitability index (3.7 on a scale of 0 to 10) with operating losses during 2022 and 2023. Average return on equity over the last five years has been poor at -1.0%. Fair overall results on stability tests (3.5) including weak results on operational trends. The largest net exposure for one risk is high at 3.8% of capital. Strong long-term capitalization index (8.9) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting 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 (10.0) 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:
Med mal (6.7%), personal/comm auto (5.9%), comm multi (3.3%), work comp (3.0%), product liab. (0.8%), fire (0.2%), other (80.1%)
Licensed in:
NY
Principal Investments:
Investment grade bonds (80.8%), non investment grade bonds (1.0%), cash (0.7%), other (17.5%)
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
34886
Website
Largest Affiliates