NJM Insurance Company and Its Insurance Subsidiaries Rated A+ (Superior) by AM BestApril 25, 2023
West Trenton, NJ – AM Best recently 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.
About NJM Insurance Group
Founded in 1913, NJM is among the Mid-Atlantic region’s leading property and casualty insurers. The Company operates in a mutual fashion for the exclusive benefit of its policyholders and is consistently recognized for its award-winning customer service, superior claims handling, and overall customer satisfaction. NJM’s personal insurance products are available direct to consumers in Connecticut, Maryland, New Jersey, Ohio, and Pennsylvania. The Company also works with a preferred network of independent agents to deliver business insurance in Connecticut, Delaware, Maryland, New Jersey, New York, and Pennsylvania. Visit njm.com to learn more.