SIGI Selective Insurance Group Inc

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

 

Date of Report (Date of earliest event reported)			March 7, 2016
SELECTIVE INSURANCE GROUP, INC.
(Exact name of registrant as specified in its charter)
New Jersey	001-33067	22-2168890
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
40 Wantage Avenue, Branchville, New Jersey		07890
(Address of principal executive offices)		(Zip Code)
Registrant's telephone number, including area code		(973) 948-3000
Not Applicable
(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Section 5 – Corporate Governance and Management

 

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

(b) Departure of Certain Officer

 

On March 7, 2016, Selective Insurance Group, Inc. (the “Company”) announced that Dale A. Thatcher, Executive Vice President, Chief Financial Officer and Treasurer, intends to retire from the Company effective September 1, 2016. A copy of the Company's press release announcing Mr. Thatcher’s retirement is attached as Exhibit 99.1 to this report and is incorporated herein by reference.

 

Section 9 – Financial Statements and Exhibits

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

99.1 Press Release of Selective Insurance Group, Inc. dated March 7, 2016

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

	SELECTIVE INSURANCE GROUP, INC.
Date: March 7, 2016	By:	/s/ Michael H. Lanza
		Michael H. Lanza
		Executive Vice President and General Counsel

 

 

 

 

EXHIBIT INDEX

 

Exhibit No.		Description
99.1		Press Release of Selective Insurance Group, Inc. dated March 7, 2016

 

Exhibit 99.1

 

 

Selective Insurance Announces Dale Thatcher’s Plans to Retire as Chief Financial Officer

 

Thatcher to Remain with Company through September 1, 2016

 

Company Initiates Internal and External Search for Successor

 

BRANCHVILLE, N.J., March 7, 2016 – 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.

 

Investor Contact:	Media Contact:
Dale A. Thatcher	Jamie Beal
973-948-1774	973-948-1234
Dale.Thatcher@Selective.com	Jamie.Beal@Selective.com

 

Selective Insurance Group, Inc.

40 Wantage Avenue

Branchville, New Jersey 07890

www.Selective.com