SELECTIVE INSURANCE GROUP INC
For the period ended Jun 30, 2024. Filed Jul 26, 2024.
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Jun 30, 2024 · Filed Jul 26, 2024
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Ratings
Our ratings are as follows:
| Nationally Recognized Statistical Rating Organizations | Financial Strength Rating | Outlook |
|---|---|---|
| AM Best Company | A+ | Stable |
| Moody's Investors Services ("Moody's") | A2 | Stable |
| Fitch Ratings ("Fitch") | A+ | Stable |
| Standard & Poor's Global Ratings ("S&P") | A | Stable |
On February 28, 2024, S&P reaffirmed our "A" rating with a "stable" outlook. In taking this rating action, S&P cited our (i) strong financial and business risk profiles, (ii) sound underwriting process that produces profitable operating performance, and (iii) very strong capital adequacy.
On May 14, 2024, Fitch reaffirmed our "A+" rating with a "stable" outlook. In taking this rating action, Fitch cited our (i) business profile as having favorable competitive positioning within our core standard lines businesses with strong independent agency relationships, (ii) continued profitable underwriting, (iii) strong capitalization, and (iv) very strong debt service.
On June 26, 2024, Moody's reaffirmed our "A2" rating and changed our rating outlook to "stable" from "positive." In taking this rating action, Moody's cited our (i) strong regional franchise focused on low-to-medium hazard and small-to-midsize commercial accounts, (ii) strong independent agency relationships, (iii) long record of underwriting profitability, and (iv) conservative investment portfolio. In addition, Moody's cited our narrower market presence relative to national peers, contributing to the rating outlook change.
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