Moody’s revises Selective view to stable

Moody's Investors Service said it affirmed the Baa2 senior debt rating of Selective Insurance Group, Inc. and the A2 insurance financial strength ratings of the group's operating subsidiaries.

The outlook was changed to stable from negative.

"The change to a stable outlook reflects the company's improved profitability as a result of stronger price adequacy in commercial lines, re-underwriting initiatives and claims process improvements. The company continues to evaluate its book of business based on significant use of data-driven tools to non-renew under priced accounts while maintaining price adequacy and healthy retention levels for profitable business," Pano Karambelas, Moody's lead analyst for Selective, said in a news release.

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