New Jersey Manufacturers Insurance Company

WEST TRENTON, NJ — At a presentation today, New Jersey Manufacturers Insurance Company pledged support for community revitalization by announcing its involvement for a second consecutive year in the Department of Community Affairs Neighborhood Revitalization Program. Each year's participation is $1 million.

Joining NJM in this announcement at the Habitat for Humanity-Trenton Area offices on North Clinton Avenue was the East Trenton Collaborative, a coalition of City government and non-profit groups spearheading redevelopment efforts in that neighborhood.

The initiatives in East Trenton balance the need for good housing with appropriate commercial development.

"This is a part of a holistic approach,'' said Bernie Flynn, NJM's President and CEO. "It balances responsible housing development and business opportunities necessary to transform neighborhoods, with the community outreach necessary to make that change a reality.''

Other speakers at the event included Department of Community Affairs Acting Commissioner Charles A. Richman; Trenton Mayor Doug Palmer, and Mercer County Executive Brian Hughes.

"See what can happen at the grass roots?" Richman remarked. "It's the people here who do what they do, day in and day out — it's my honor to be in your presence."

"NJM has grown to become New Jersey's largest property/casualty insurer, but has not forgotten its roots,'' Mayor Palmer said during the presentation. ''It is giving back to the city of its birth."

County Executive Hughes described himself as a "proud NJM customer." "I am proud of the decision made to support the East Trenton Collaborative — proud of NJM and DCA in their roles," he added.

NJM's financial participation has been used for such efforts as:

The Isles Healthy Homes program, in which health, safety and energy deficiencies are addressed in older homes. Lead abatement is an example of some of the work done.
Land acquisition for building of new homes by Habitat for Humanity-Trenton Area.
Trenton RESTORE, under which Habitat for Humanity provides inexpensive building materials for sale to residents and businesses to maintain their buildings.
Expanding social services provided by HomeFront, including employment skills and independent living skills.
CityWorks provides development guidance on a non-profit basis, reaching out to investors, residents and businesses to let them know about commercial opportunities in East Trenton.

NJM receives a credit on its New Jersey state taxes in exchange for its participation. The Neighborhood Revitalization Tax Credit Program encourages a company like NJM to infuse resources into its community's well-bring that otherwise would go into the state's General Fund.

NJM is the Garden State's largest provider of Personal Auto and Workers’ Compensation insurance, with nearly $1.5 billion in direct premiums written in 2008. NJM shares the benefits of its prudent operations in the form of dividends to policyholders. Since 1918, more than $4.7 billion has been returned to policyholders, including $179 million returned on 2008 policies alone. NJM employs about 2,400 people, including 1,800 at its West Trenton headquarters.

NJM Bank is a wholly owned subsidiary of the Insurance Company. As of August 31, 2009, total Bank assets were $610,272,889. The Bank has $487,398,279 in total deposits, with 23,528 deposit accounts and 3,885 loan accounts. Its financial strength enables a prominent presence in residential, consumer and commercial real estate lending.

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