S&P raises Selective Insurance

Standard & Poor's said it raised its counterparty credit and financial strength ratings on Selective Insurance Co. of America and its insurance company affiliates to A+ from A.

The agency said it also raised its counterparty credit and senior debt ratings on Selective Insurance Group Inc. to BBB+ from BBB.

The outlook is stable.

S&P noted that the ratings actions reflect Selective's solid position as a regional insurer in the Mid-Atlantic states, strong operating performance, very strong operating company capitalization and good financial flexibility.

Partially offsetting these strengths is Selective's geographic concentration in New Jersey, the agency said.

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