BRANCHVILLE, N.J., March 7, 2016 /PRNewswire/ -- Selective Insurance
Group, Inc. (NASDAQ: SIGI) today announced that Dale A. Thatcher, Executive Vice President,
Chief Financial Officer and Treasurer, has informed the Board of
Directors of his intent to retire from the Company, effective
September 1, 2016. To ensure a
seamless transition, Selective expects a successor to be named
prior to Mr. Thatcher's retirement and has initiated an internal
and external search for candidates.
Mr. Thatcher joined Selective in 2000 as Chief Financial Officer
and since has been responsible for Finance, Treasury, Enterprise
Risk Management, Investor Relations and Communications, Internal
Audit, Investment Operations, Reinsurance, and Tax. During Mr.
Thatcher's tenure, Selective has:
- Grown net premiums written 2.5 times from $844 million to $2.1 billion;
- Grown total assets 2.7 times from $2.6
billion to $6.9 billion;
- Nearly quadrupled market capitalization from approximately
$500 million to approaching
$2 billion; and
- Expanded into the excess and surplus lines business with two
acquisitions.
Selective's Chairman and CEO, Gregory E.
Murphy stated, "Dale has been a great partner, and he and
his team have done an excellent job managing Selective's financial
activities during a historic period of growth in net premiums
written, total assets and market capitalization. Dale oversaw the
creation of our enterprise risk management, reinsurance and
investor relations programs, as well as provided inspired personal
leadership in our capital and debt transactions and several
corporate acquisitions and divestitures. We are pleased to have
Dale actively continuing in his role during this transition
period."
Mr. Thatcher said, "Selective is a tremendous company, and I
have been honored to work for 16 excellent years with Greg Murphy, the Board of Directors, and the
leadership team. As I turn to the next phase of my career, I am
proud to have played a role in building Selective's current
performance at historic financial levels, including a record
statutory combined ratio in 2015."
About Selective Insurance Group, Inc.
Selective
Insurance Group, Inc. is a holding company for 10 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.
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SOURCE Selective Insurance Group, Inc.