Selective Insurance Group News

Selective Insurance: $100-$120M Preliminary Pre-Tax Gross Loss for Sandy

Branchville, N.J.-based Selective Insurance Group today said a preliminary pre-tax gross Hurricane Sandy loss would be between $100 to $120 million and a pre-tax net loss of around $52 million, including reinstatement premiums and reinsurance recoveries. About two-thirds of the …

N.J.-Based Selective Insurance Announces 8 Officer Promotions

Branchville, N.J.-headquartered Selective Insurance Group this week announced the following promotions by its subsidiary, Selective Insurance Company of America: Bruce Monahan (Newton, N.J.), to senior vice president, chief audit executive. Monahan joined Selective in November 2007 as vice president of …

Selective Insurance Announces 7 Officer Appointments

Selective Insurance Group today announced the following appointments by its subsidiary, Selective Insurance Company of America: Sarita Chakravarthi (Chesire, Conn.) to senior vice president, tax and assistant treasurer. Chakravarthi joined Selective in December 2006 as vice president, treasury and taxation. …

N.J.-Based Selective Appoints New Member to Board of Directors

Branchville, N.J.-headquartered Selective Insurance Group appointed Annabelle Bexiga as a new independent member to its board of directors. Bexiga is the chief information officer at TIAA-CREF, a Fortune 100 financial services organization and a provider of retirement services in the …

Selective Reports $18.1M Q1 Profit; Commercial Lines Price Up 5.1%

Selective Insurance Group, headquartered in Branchville, N.J., reported $18.1 million net income for its 2012 first quarter, a 11.7-percent decrease compared to $20.5 million income reported during the prior-year quarter. Total net premiums written were $420.2 million, up 16 percent …

Selective Insurance Announces Two Promotions

Selective Insurance Group in Branchville, N.J., announced two promotions in its Selective Insurance Company of America subsidiary. Dana Shutters is promoted to vice president, operational excellence. He joined Selective in Nov. 2010 as assistant vice president of quality assurance. Prior …

Q3 Earnings Report: Selective Posts Net Loss

Selective Insurance Group, based in Branchville, New Jersey, reported net loss of $20.1 million for the third quarter. The insurer had posted net profit of $17.2 million during the same period one year ago. The insurer blamed big catastrophe losses …

N.J.-based Selective Insurance Reports $70M in Q3 Cat Losses

Branchville, N.J.-based Selective Insurance Group reported on Tuesday, Oct. 11, pre-tax catastrophe losses for the third quarter of around $70 million, or 20 points on the combined ratio. The loss estimate is net of reinsurance recoveries and inclusive of reinstatement …

Selective to Acquire Montpelier Re E&S Unit for $55M

Selective Insurance Group is acquiring Montpelier U.S. Insurance Company (acronym MUSIC), an excess-and-surplus lines unit from Montpelier Re U.S. Holdings Ltd., for $55 million. Selective said the deal would be completed before the end of the year, pending customary closing …