AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and Long-Term Issuer Credit Rating (ICR) of “aa” (Superior) for NJM Insurance Group.
AM Best, the country’s premier insurance rating agency, performs an annual evaluation of the financial strength of insurance companies from various perspectives. The group’s parent, NJM Insurance Company, is one of only 66 property casualty insurance companies that has maintained a Best’s Financial Strength Rating of A or higher for at least 75 years.
“In 2023, NJM continues its strategic expansion in New Jersey and across the region. We have experienced steady growth over the last year, enabling more policyholders throughout the Mid-Atlantic region to benefit from NJM’s unique legacy of service,” said Mitch Livingston, NJM president, and CEO. “At the same time, AM Best’s affirmation of our rating demonstrates that we remain committed to financial strength for the benefit of our customers.”
AM Best’s ratings reflect NJM’s strong balance sheet, financial results, and attention to enterprise risk management.
“NJM’s long-term history of exceptional financial strength reflects our commitment to providing policyholders with confidence in their coverage,” said Chris Malone, NJM senior vice president and chief financial officer. “Careful management of our financial resources ensures that we will be there for policyholders when they need us most.”
In addition to AM Best’s recent affirmation, NJM was selected as a Property-Casualty Ward’s 50® Company in 2022 for its commitment to financial stewardship.
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