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Dale A. Thatcher
Executive Vice President and Chief Financial Officer
Selective Insurance Group, Inc.
40 Wantage Avenue
Branchville, New Jersey 07890
Tel: (973) 948-1774
Fax: (973) 948-0282
E-mail: dale.thatcher@selective.com
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RE:
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Selective Insurance Group, Inc.
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Form 10-K for the Fiscal Year Ended December 31, 2009
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Definitive Proxy Statement on Schedule 14A
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File No. 1-33067
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1.
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We have read your response to comment one and continue to believe that the summarized information specified by Rule 4-08(g) of Regulation S-X is required since the significance test was met on an aggregated basis for 2009. Since the significance test was met for 2009, Form 10-K for 2010 should include summarized information for 2010, 2009 and 2008. The summarized information should be audited. Please confirm that you will include summarized information for all three years in your Form 10-K for December 31, 2010.
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2.
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In your response to comment two you state as a reason for the decrease in the amount of the contingent consideration receivable a mutual agreement to curtail workers compensation policy offerings. Explain the nature of this mutual agreement, how it impacted the value of the contingent consideration and why this was not considered continuing involvement as described in ASC 205-20-45-1.
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3.
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Please clarify whether or not the contingent consideration that you have recorded at fair value is marked to market at each reporting date. Your response indicates that you re-measured the consideration at each reporting date (i.e. March 31, June 30 and September 30) during the course of 2010, however, page 18 of your Form 10-Q indicates that your consideration receivable is presented at fair value on a “non-recurring basis”.
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The Company is responsible for the adequacy and accuracy of the disclosure in the filings;
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Staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to the filing; and
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The Company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.
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