0000230557-18-000017.txt : 20180409 0000230557-18-000017.hdr.sgml : 20180409 20180409161943 ACCESSION NUMBER: 0000230557-18-000017 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20180409 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20180409 DATE AS OF CHANGE: 20180409 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SELECTIVE INSURANCE GROUP INC CENTRAL INDEX KEY: 0000230557 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 222168890 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33067 FILM NUMBER: 18745774 BUSINESS ADDRESS: STREET 1: 40 WANTAGE AVENUE CITY: BRANCHVILLE STATE: NJ ZIP: 07890 BUSINESS PHONE: 9739483000 MAIL ADDRESS: STREET 1: 40 WANTAGE AVE STREET 2: 40 WANTAGE AVE CITY: BRANCHVILLE STATE: NJ ZIP: 07890 FORMER COMPANY: FORMER CONFORMED NAME: SRI CORP DATE OF NAME CHANGE: 19860508 8-K 1 april20188-k.htm 8-K Document


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934


Date of Report (Date of earliest event reported)
April 9, 2018


SELECTIVE INSURANCE GROUP, INC.
(Exact name of registrant as specified in its charter)


New Jersey
 
001-33067
 
22-2168890
(State or other jurisdiction of incorporation)
 
(Commission File Number)
 
(I.R.S. Employer Identification No.)

40 Wantage Avenue, Branchville, New Jersey
 
07890
(Address of principal executive offices)
 
(Zip Code)
 
 
 
Registrant's telephone number, including area code
 
(973) 948-3000

Not Applicable
(Former name or former address, if changed since last report.)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
                                
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
        
Emerging growth company        o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
                                                    
o






Section 2 - Financial Information

Item 2.02.    Results of Operations and Financial Condition.

On April 9, 2018, Selective Insurance Group, Inc. (the “Company”) issued a press release regarding preliminary pre-tax net insured catastrophe and other non-catastrophe property losses, pre-tax net favorable prior year casualty reserve development, and standard commercial lines pure renewal pricing for the quarter ending March 31, 2018. A copy of the Company’s press release is attached hereto as Exhibit 99.1.

The information contained in this report on Form 8-K, including the exhibits attached hereto, is being furnished and shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. The Company makes no admission as to the materiality of any information in this report or the exhibits attached hereto.

Section 9 - Financial Statements and Exhibits

Item 9.01.    Financial Statements and Exhibits.

(d)    Exhibits

99.1
Press Release of Selective Insurance Group, Inc. dated April 9, 2018






EXHIBIT INDEX

Exhibit No.
Description
Press Release of Selective Insurance Group, Inc. dated April 9, 2018






SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SELECTIVE INSURANCE GROUP, INC.



Date: April 9, 2018            By:     /s/ Michael H. Lanza    
Michael H. Lanza
Executive Vice President and General Counsel



EX-99.1 2 exhibit991.htm EXHIBIT 99.1 Exhibit


selectivelogo123117.jpg
Selective Insurance Group, Inc.
40 Wantage Avenue
Branchville, NJ 07890
www.selective.com



Selective Insurance Group, Inc. Announces First Quarter Catastrophe Losses, Other Property Losses and Net Favorable Reserve Development

Branchville, NJ - April 9, 2018 - Selective Insurance Group, Inc. (NASDAQ: SIGI) today announced preliminary first quarter 2018 pre-tax net insured catastrophe losses totaling approximately $26 million. The catastrophe losses primarily relate to the winter storm that impacted the east coast of the United States in early January and the Nor’easters in March.

The Company also experienced higher than expected non-catastrophe insured property losses of $28 million ($106 million in total), principally related to the early January deep freeze in the Company’s footprint states and a relatively large number of severe fire losses. First quarter 2018 catastrophe and non-catastrophe property losses were above expected by $33 million that will reduce fully diluted earnings per share by $0.44.

Partially offsetting these losses, the Company expects to report $8 million of pre-tax net favorable prior year casualty reserve development in the quarter, or $0.11 per fully diluted share, and improved standard commercial lines pure renewal pricing that was 3.2% for the first quarter of 2018.

Selective will release first quarter earnings on May 2, 2018 and plans a conference call on May 3, 2018 at 9:00 a.m. E.T. (previously scheduled for 10:00 am E.T.). The Company will update its full year 2018 guidance at that time.


About Selective Insurance Group, Inc.
Selective Insurance Group, Inc. is a holding company for ten property and casualty insurance companies rated “A” (Excellent) by A.M. Best. Through independent agents, the insurance companies offer standard and specialty insurance for commercial and personal risks, and flood insurance underwritten by the National Flood Insurance Program. Selective maintains a website at www.Selective.com.

Investor Contact: Rohan Pai
973-948-1364
rohan.pai@selective.com

Media Contact: Jamie M. Beal
973-948-1234
jamie.beal@selective.com



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