HomeMy WebLinkAbout09-2608. 1
J?PNGE O Pq9 ? ?u D !. ? C. Ul Cc.?hP ` 0..-
COMMONWEALTH OF PENNSYLVANIA
o
INSURANCE DEPARTMENT
Harrisburg, PA April 1, 2009
Whereas, the SELECTIVE INSURANCE COMPANY OF AMERICA, located at Branchville, N.J.,
has filed in this Department a certified copy of its charter and a detailed statement of its Assets and Liabilities,
and otherwise complied with the requirements of Section 661 of the Act of Assembly of the Commonwealth of
Pennsylvania, entitled "An act relating to insurance; amending, revising and consolidating the Law &c.,"
approved the 17th day of May, A.D. 1921, as well as with the requirements of the laws of this Commonwealth
applicable to such company in doing business herein.
Now Therefore, I, Joel Ario, Insurance Commissioner of the Commonwealth of Pennsylvania, do
hereby certify, in accordance with Section 1, of the Act of Assembly approved June 29, 1923 and known
as act No. 373 of the Laws of 1923, that the Selective Insurance Company of America, of Branchville, N. J.,
is duly authorized to become and be accepted as sole surety on all bonds, undertakings and obligations required
or permitted by law or the ordinances, rules or regulations of any municipality, board, body, organization, or
public officer.
In Witness Whereof, I have hereunto set my hand and
affixed my official seal, the day and year first above written.
n
Commissioner
SELECTIVE 0
Selective Insurance Company of America
40 Wantage Avenue
Branchville, New Jersey 07890
973-948-3000
STATEMENT OF FINANCIAL CONDITION
I hereby certify that the following information is contained in the Annual Statement of Selective Insurance Company of
America ("SICA") to the New Jersey Department of Banking and Insurance as of December 31, 2008:
ADMITTED ASSETS (in thousands)
Bonds $ 1,475,509
Preferred stocks at convention value 0
Common stocks at convention values 62,259
Subsidiary common stock at 0
convention values
Short-term investments 70,573
Mortgage loans on real estate 40,000
(including collateral loans)
LIAB
Reserve for losses and loss expenses $1,195,298
Reserve for unearned premiums 370,120
Provision for unauthorized reinsurance 191
Commissions payable and contingent
commissions 24,037
Other accrued expenses 20,762
Other liabilities
Other invested assets . 152,128 Total liabilities
Interest and dividends due or accrued 17,658
Premiums receivable 321,455 Surplus as regards policyholders
Other admitted assets 101,587,
179.078
1,789,486
451,683
Total admitted assets Total liabilities and surplus as regards
policyholders
I fiuther certify that the following is a true and exact excerpt from Article VII, Section 1 of the By-Laws of SICA, which is
still valid and existing.
The Chairman of the Board, President, Chief Executive Officer, any Executive Vice President,
any Senior Vice President or any Corporate Secretary may, from time to time, appoint attorneys
in fact, and agents to act for and on behalf of the Corporation and they may give such appointee
such authority, as his/her certificate of authority may prescribe, to sign with the Corporation's
name and seal with the Corporation's seal, bonds, recognizances, contracts of indemnity and
other writings obligatory in the nature of a bond, recognizance or conditional undertaking, and
any of said Officers may, at any time, remove any suc tutee and revoke the power and
authority given him/her. t r\
IN WITNESS WHEREOF, I hereunto subscribe my name and
STATE OF NEW JERSEY :
:ss. Branchville
COUNTY OF SUSSEX
Michael H. Lanza
SICA Corporate Secretary
On thisday of March, 2009, before me, the undersigned officer, personally appeared Michael H. Lanza; who
acknowledged himself to be the Corporate Secretary of SICA, and that he, as such Corporate Secretary, being authorized so
to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the corporati?, 9 R .,
himself as Corporate Secretary. ?..
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