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SeleCOVe
~~ _-"'-'U<,
Sdective Insutance Company of America
Sdective Way Insucance Company
40 Wantage Avenue
Btanchville, New Jersey 07890
973-948-3000
4
STATEMENT OF FINANCIAL CONDITION
,
I hereby certifY that the following statement of Selecrive Insurance Company of America is true as taken from the records
of said Company as of December 31,1999.
ADMI1TED ASSETS
Bonds .........................................................................$ 648.259
Preferred stocks-at convention values ................................90.815
Common stocks-at convention values .............................142.048
Subsidiary common stock-at convention values.................29.420
Short-term investments .....................................................36.591
Mongage loans on real esrare (including collateral loans) .......141
Other invested assets .........................................................15.441
Interest and dividends due or accrued ...............................12.046
Premiums receivable ........................................................145.032
Other admitted assets........................................................29.672
(in rhousands)
$1.149,465
LIABILITIES AND SURPLUS
Reserve for losses and loss expenses........................$ 590.866
Reserve for unearned premiums .................................211.494
Provision for unauthorized reinsurance ..........................1.959
Excess of statUtory reserves over
case basis reserves ...........................................................414
Contingent commissions ................................................6.433
Other accrued expenses ................................................14,851
Other Liabilities ...........................................................~
Total Liabilities ..........................................................886,323
Surplus as regards policyholders ..................................2lU..l.il
(in thousands)
$1.149.465
I furrher cerrifY rhar the following is a rrue and exact excerpt from Article VII. Secrion 13 of the By-Laws of the Selective
Insmance Company of America which is still valid and exisring.
,
"The Chairman of the Board, President, any Vice Presidents or the Secretary may. from time to time, appoint attorneys
in fact, and agents to act for and on behalf of the Company and they may give such appointee such authority, as his/her
certificate of authority may prescribe, to sign with the Company's name and seal with the Company's seal, bonds, recog~
nizances. contracts of indemnity and other writing obligatory in the nature of a bond) recognizance or conditional under~
taking, and any of said Officers may, at any rime, remove any such appointee and revoke the power and authority given
him/her".
IN WI1NESS WHEREOF, I hereunto subscribe my name and affIX the
seal of said Company, this 28th day of February. 2000.
~+.,... 12. ~
Executive Vice President and General Counsel
Subscribed and Sworn to me on this 28th day of February. 2000.
9~~[4'~6~
Notary Public
My Commission Expires October 17. 2003.
B-99 (2/00)
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