A.M. Best Affirms Ratings of Selective Insurance; Assigns Issuer Credit Ratings

A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) and has assigned issuer credit ratings (ICR) of “aa-” to Selective Insurance Group (Selective) and its six property/casualty pooling members. In addition, the ratings recognize Selective’s disciplined underwriting culture, broad product offerings, the leveraging of its agency relationships, conservative investment philosophy and prudent capital management, which have contributed to the group’s consistent operating profitability. Selective Insurance Group, Inc.’s debt-to-total capital was moderate at 24% at December 31, 2004, in line with management’s long-term objective of maintaining financial leverage below 25%…..

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