A.M. Best Co. has assigned indicative debt ratings of “a-” to senior unsecured debt, “bbb+” to subordinated debt and “bbb” to preferred stock, which may be issued under the recently filed and approved shelf registration statement of Selective Insurance Group, Inc. (Selective) (Branchville, NJ) [NASDAQ:SIGI]. The outlook assigned to all ratings is negative.

The new shelf registration replaces Selective’s previous shelf registration filed in September 2006, which was withdrawn simultaneously with the approval; consequently, A.M. Best has withdrawn its ratings on the previous shelf registration.

Selective’s unadjusted debt-to-total capital ratio was 21.7% at June 30, 2009 (U.S.GAAP). The company’s financial leverage ratios remain within A.M. Best’s guidelines for its debt ratings; however, coverage ratios are trending below the requirements for a holding company with an issuer credit rating (ICR) of “a-”.

Selective’s ICR of “a-” and existing debt ratings, as well as the financial strength rating of A+ (Superior) and ICRs of “aa-” of its insurance operating entities, are all unchanged. These ratings were assigned a negative outlook on May 20, 2009.

For Best’s Credit Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.