Any company can get a top grade once — or even twice. But, when you do it for multiple generations, you know you’re doing something right.
Such is the case with NJM Insurance Group, which recently was awarded a financial strength rating of “A+” (Superior) and a long-term issuer credit rating of “AA” (Superior) by AM Best, the country’s premier insurance rating agency.
NJM 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. Best produces its rating after performing an annual evaluation of the financial strength of insurance companies from various perspectives.
NJM CEO Mitch Livingston said the honor never gets old — and always is appreciated, especially during a time period in which NJM is expanded the brand in the mid-Atlantic region.
“In 2023, NJM continues its strategic expansion in New Jersey and across the region,” he said. “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.
“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,” Chris Malone, NJM senior vice president and chief financial officer, said. “Careful management of our financial resources ensures that we will be there for policyholders when they need us most.”