SELECTIVE INSURANCE GROUP INC
For the period ended Sep 30, 2024. Filed Oct 25, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 25, 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 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.
On September 27, 2024, S&P reaffirmed our "A" rating with a "stable" outlook. In taking this rating action, S&P cited our (i)
strong historical operating performance driven by positive renewal rates, enhanced underwriting tools, and detailed risk segmentation, and (ii) focus on profitability through steady rate increases and targeted risk selection, aiding in retention of lower-risk, more-profitable accounts.
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