The holding company based in New Jersey becomes the 25th member of the Massachusetts trade assoc.
The Massachusetts Insurance Federation, the state’s largest property and casualty insurance trade association, has welcomed a new member to its ranks. Selective Insurance Group, Inc. (NASDAQ:SIGI) based in Branchville, New Jersey is a holding group for “ten customer-focused property and casualty (P&C) insurance companies.
“We are honored to have Selective Insurance Group join the Massachusetts Insurance Federation as our 25th member company,” MIF Executive Director John P. Murphy said. “A strong and well regarded ‘super regional’ carrier, the addition of Selective to our roster further strengthens the Federation’s leadership on commercial lines issues.”
Selective Insurance Group offers primary and alternative market insurance for both commercial and personal risks. It also provides flood insurance which is underwritten by the National Flood Insurance Program. All of the Selective Insurance Group companies are rated “A” (Excellent) by AM Best with the rating agency ranking the company as the 42nd largest P&C insurance group in the U.S.
“Selective is pleased to join the Massachusetts Insurance Federation,” said Michael Lanza, Selective’s Executive Vice President, General Counsel and Chief Compliance Officer. “Since entering the Commonwealth for commercial lines in 2007, we have grown our business and seen the important role the MIF plays in advocating for robust markets and the insurance industry. The MIF does an excellent job.”
More about the Massachusetts Insurance Federation
Founded in 2003, the MIF is the leading public policy trade association for the property/casualty insurance industry in Massachusetts. Over the last decade, the association has grown from six to 24 members. With the addition of its 25th member, the member companies, currently write over $7.5 billion in property and casualty insurance premiums in Massachusetts. They represent three-fourths of private passenger auto insurance premiums in the state, almost two-thirds of both homeowners’ and workers’ compensation business written in Massachusetts, and more than three-fourths of medical malpractice insurance premiums written by licensed insurers.