Key Developments: Selective Insurance Group Inc (SIGI.O)
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22 May 2013
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Latest Key Developments (Source: Significant Developments)
Selective Insurance Group Inc Declares $0.13 Per Share Quarterly Cash Dividend
Selective Insurance Group Inc announced that the Board of Directors declared a $0.13 per share quarterly cash dividend on common stock payable June 3, 2013 to stockholders of record as of May 15, 2013. Full Article
Selective Insurance Group Inc Announces Pricing Of $175 Million Aggregate Principal Amount Of Senior Notes
Selective Insurance Group Inc announced the sale of $175 million aggregate principal amount of 5.875% Senior Notes due 2043. The settlement date for the offering is expected to be February 8, 2013, subject to customary closing conditions. Selective granted the underwriters the option to purchase up to an additional $25 million principal amount of Senior Notes within 30 days solely to cover over-allotments. The Senior Notes are redeemable on or after February 8, 2018, at 100% of their principal amount plus accrued and unpaid interest to, but excluding, the date of redemption. Selective intends to apply for listing of the Senior Notes on the New York Stock Exchange. If the application is approved, Selective expects trading in the Senior Notes to begin within 30 days of issuance under the symbol SGZA. The net proceeds from the offering will be used to redeem all $100 million aggregate principal amount of Selective's 7.5% Junior Subordinated Notes due 2066 at a redemption price equal to 100% of their principal amount plus accrued and unpaid interest thereon to, but excluding, the date of redemption. The remaining proceeds will be used for general corporate purposes, which may include capital contributions to Selective's insurance subsidiaries. Wells Fargo Securities, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint book-running managers for the offering. Full Article
Selective Insurance Group Inc Declares Quarterly Cash Dividend
Selective Insurance Group Inc announced that Board of Directors declared a $0.13 per share quarterly cash dividend on common stock payable March 1, 2013 to stockholders of record as of February 15, 2013. Full Article
Selective Insurance Group Inc Declares $0.13 Per Share Quarterly Cash Dividend
Selective Insurance Group Inc announced that the Board of Directors declared a $0.13 per share quarterly cash dividend on common stock payable December 3, 2012 to stockholders of record as of November 15, 2012. Full Article
Selective Insurance Group Declares Quarterly Cash Dividend
Selective Insurance Group announced that its Board of Directors declared a $0.13 per share quarterly cash dividend on common stock payable September 4, 2012 to stockholders of record as of August 15, 2012. Full Article
Selective Insurance Group Declares Quarterly Dividend
Selective Insurance announced that it has declared a $0.13 per share quarterly cash dividend on common stock payable March 1, 2012 to stockholders of record as of February 15, 2012. Full Article
Selective Insurance Group Declares Dividend
Selective Insurance Group announced that it has declared a $0.13 per share quarterly cash dividend on common stock payable December 1, 2011 to stockholders of record as of November 15, 2011. Full Article
Selective Insurance Group Acquires Montpelier U.S. Insurance Company From Montpelier Re Holdings Ltd.'s Subsidiary
Selective Insurance Group announced that it has entered into an agreement to purchase Montpelier U.S. Insurance Company (MUSIC), an excess and surplus (E&S) lines subsidiary, from Montpelier Re U.S. Holdings Ltd., a wholly owned subsidiary of Montpelier Re Holdings Ltd.. The deal is expected to close before the end of the year, subject to customary closing conditions and regulatory approvals. The transaction is valued at approximately $55 million , which includes tax benefit carry-forwards of approximately $3 million . Full Article
Selective Insurance Group Declares Dividend
Selective Insurance Group announced that its Board of Directors have declared a $0.13 per share quarterly cash dividend on common stock payable September 1, 2011 to stockholders of record as of August 15, 2011. Full Article
TEXT - Fitch rates Selective Insurance Group
Feb 5 - Fitch Ratings has assigned a 'BBB+' rating to Selective Insurance Group's (Selective) $175 million 5.875% senior note issuance due 2043. The Rating Outlook for all ratings is Stable. A complete list of ratings is provided at the end of this release. Selective has granted the underwriters the option to purchase up to an additional $25 million of Senior Notes within 30 days to cover over-allotments which could bring the total issuance of the senior notes to $200 million. The new issue
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