Fitch affirms Selective

Fitch Ratings said it affirmed Selective Insurance Group, Inc.'s issuer default rating at A-, its $100 million of 6.7% senior notes due 2035 and $50 million of 7.25% senior notes due 2034 at BBB+ and its $100 million of 7.5% junior subordinated notes due 2066 at BBB-.

The outlook is stable.

The agency said the affirmation reflects the company's conservative balance sheet with solid capitalization and reserve strength as well as underwriting performance in line with peers.

The ratings continue to reflect Selective's disciplined underwriting culture, strong independent agency relationships, strong loss reserve position and improved diversification through continued efforts to reduce its concentration in New Jersey, Fitch said.

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