HomeMy WebLinkAbout05-1962
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COMMONWEALTH OF PENNSYLVANIA
INSllRANCE DEPARTMENT
Harrisburg, I' A A rill DOS
Wbereas, tbe SELECTIVE INSURANCE COMPANY OF AMERICA, located at Branchv Ie, N.J.,
has filed in this Department a certified copy of its charter and a detailed statement of its Assets and iabilities.
and otherwise complied with the requirements of Section 661 of the Act of Assembly of the Comm nwealth of
Pennsylvania, entitled "An act relating to insurance; amending, revising and consolidating the Law c.,"
approved the 17'\1 day of May, A,D. 1921, as well as with the requirements of the laws of this Com onwealth
applicable to such company in doing business herein,
Now Therefore, 1, M. Diane Koken, Insurance Commissioner of the Commonwcalth of Penns .Ivania, do
hereby certify, in accordance with Section 1, of the Act of Assembly approved Junc 29, ] 923 and k own 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 obligation required or
permitted by law or the ordinances, rules or regulations of any municipality, board, body, organizat' n, or
public officer.
In Witness Whereof, 1 have hereunto set my hand ld
affixed my official seal, the day and year first abov written,
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, Insurance CommIssIoner
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Selective Insurance Company of America
Selective Way Insurance Company
40 Wantage Avenue
Btanchville, 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, 2004.
ADMIITED ASSETS
LIABILITIES AND SURPLUS
Bonds...... .....,. .......... .......,.' '..,.. .... ........ ...... ...... ...... ,$ 1.179,061
Reserve for fosses and loss expenses............................$ 96,394
Reserve for unearned premiums.................................... 57.340
Preferred stocks-at convention values ................ ..............51,458
Provision for unauthorized reinsurance......................... .......424
Common stocks-at convention values .................. .........206,308
ShorHerm investments ....... ......... ..... ........ ...... ..... .... ... ... ,.37 ,370
Contingent commissions............................................." ..37,119
Subsidiary common stock~at convention values .... ..........25,740
Other accrued expenses................................................. ..32,061
Mortgage loans on real estate {including coUareralloans)..........3
Other invested assets ............ ........ ..... ........ ........... .... '" ..' ..44,079
Other liabilities........................................................... ~
Total Liabilities ...........................................................1 460,824
Premiums receivable... ..... ........ .... ....... ....... ..... ......... '" ...300, 582
Surplus as regards policyholders................................... .:4..Q.2...iQ.2
Interest and dividends due or accrued..............................14,231
Other admitted assets. .....................................................65,495
(in thousands) ........................ ..................................$1,924.327
(in thousands) ...........................................................$ ,924.327
I further certifY that the following is a true and exact excerpt from Article VII, Section 13 of the By-Laws of th Selective
Insurance Company of America which is still valid and existing.
"The Chairman of the Board, President, any Vice Presidents or the Secretary may, from time to time, appoint attorneys
in fact, and agents co act for and on behalf of the Company and they may give such appointee such authority, his/her
certificate of authority may prescribe, to sign with the Company's name and seal with the Company's seal, bo s, recog-
nizances, contracts of indemnity and other writing obligatory in the nature of a bond, recognizance or conditio al under-
taking, and any of said Officers may, at any time, remove any such appointee and revoke the power and auth ricy given
him/her".
IN WITNESS WHEREOF, I hereunto subscribe my name and affix the
seal of said Company, this 7th day of February, 2005.
-~/eL.~k___
Vice President
Corporare SecretaI}' & Corporate Governance Officer
Subsctibed and Sworn to me on this 7th day of February, 200S.
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Notary Public
My Commission Expires October 17, 2008
B.99 (2/05)
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