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Selemvce
Selective Insurance Compnny of America
Selective \YI.1Y Insurance Company
40 \XI.,mage Avenue
Ilranchville, New Jersey 07890
973-948-3000
STATEMENT OF FINANCIAL CONDITION
I hereby certify that the following statement of Selective Insurance Company of America is trUe as taken from the records
of said Company as of December 31, 1998.
ADMIITED ASSETS
Bonds .........................................................................$ 649,914
Preferred stocks.ar convemion values ................................85.708
Common 5tocks.at convention values ............................. J38,714
Subsidi:uy common srock.at convention valucs.................30,OI2
Shon.term investments .....................................................32,110
Morrgage loans on rea.! enace (including collarcralloans) .......270
Other invested assets .....................,,,.................................15,330
Inrcresr and dividends due or accrued ...............................11,553
Premiums receivable ........................................................135.788
Other admitted assets ............... .........................................28.767
(in thousands)
$1,128.166
LIABILITIES AND SURPLUS
Reserve for losses and loss expenses........................$ 573,890
Reserve for uneamcd premiums .................................204.495
Provision (or unauthorized reinsurance ..........................2,450
Excc.~s of sraturory reserves Over
case basis reserves ........................................................1.544
Conringent commissions ................................................7.838
Orher accrued expenses ................................................14.661
Olher Liabiliries...........................................................~
T oral Liabilities ..........................................................870.024
Surplus as regards policyholders .................................2.S.8..Jn
(in thousands)
$1,128,166
I further certify that the following is a [CUe and exact excerpt from Anicle VII. Section ]3 of the By.Laws of rhe Selective
Insurance Company of America which is still valid and existing.
"The Chairman of the Board. President. any Vice Presidenrs 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 (he Company's seal, bonds, recog.
nizances. contracts of indemnity and other writing obligatory in the nacure of a bond. recognizance or conditional under.
taking. and any of said Officers may, a.t any time, umove any 5uch appointee and revoke the power and authority given
him/her>>.
IN WITNESS WHEREOF. J hereunro subscribe my name and affix the
"'IOfS~~Q.Of~ 1999.
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(lii1 v SEAL '~i\
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Executive Vice President and General Counsel
Subscribed and Sworn ro me on this 9th day of FdlCuaf)', 1999.
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Notou)' Public
M)'Commission Expires October 17. 2003.
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