Selective Insurance News

Selective Insurance Taps Marchioni to Succeed Murphy in 2020 as CEO

Selective Insurance Group announced that John J. Marchioni, who has served as the company’s president and chief operating officer since 2013, has been unanimously elected as its next chief executive officer, effective Feb. 1, 2020. Marchioni will succeed Gregory E. …

New Jersey Couple Sues Insurer Over Sales Tax Dispute

A New Jersey couple sued an insurance company on March 13, claiming it defrauded them out of the sales tax in their Superstorm Sandy claim, and their lawyer said others might also have been affected. Charles and Beverly Mooney sued …

Selective Sells Renewals on Self-Insured Public Entity Book to Great American

Great American Insurance Group has completed a renewal rights agreement with Selective Insurance Co. of America to acquire Selective’s Self-Insured Group book of business. The business, amounting to $38 million in gross written premium in-force, relates to direct excess policies …

Selective Insurance Group Names Marchioni President, Chief Operating Officer

Selective Insurance Group Inc. has selected John Marchioni as president and chief operating officer. Gregory E. Murphy, who remains chairman and chief executive officer, previously held the president title. Marchioni had served as executive vice president, Insurance Operations, with oversight …

Selective Insurance Appoints Chief Information Officer in New Jersey

Branchville, N.J.-based Selective Insurance Group announced the appointment of Gordon Gaudet as executive vice president and chief information officer (CIO). Gaudet will assume responsibility for all information technology operations at Selective. Gaudet has spent the last nine years as a …

Selective Reports 2012 Q4 Profit of $1.3M; Sandy Losses at $30.3M

Branchville, N.J.-based Selective Insurance Group posted 2012 fourth quarter net income of $1.3 million, down more than 92 percent compared to the 2011 fourth quarter when the insurer reported $18.0 million profit. The 2012 fourth-quarter catastrophe losses were $33.8 million, …

Selective Posts Lower Profit, Hampered by CAT Loss, Weaker Investments

Branchville, N.J.-based Selective Insurance Group Inc. posted $0.3 million for its second-quarter profit, down from $1.5 million profit reported during the same period one year ago. The insurer said Wednesday that its results were hampered by catastrophe losses during the …

Selective Posts $16M Q4 Profit; Jan. Commercial Renewal Rates Up 4.5%

Selective Insurance Group, based in Branchville, New Jersey, reported $16.1 million for its 2011 fourth-quarter net income, down 32 percent from one year ago when the insurer posted $23.8 million profit. For the 2011 full year, Selective posted net income …

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 …